Egyptian steelmaker Al Ashry Steel Group plans to offer 20-30 percent of its shares on the Egyptian Exchange in the first half of 2027 to diversify financing sources and support capacity expansion, according to local media.
IPO preparations underway
The group has begun studying the offering's structure and is evaluating financial advisers and offering managers, with appointments expected before the end of 2026. The final timing and structure will depend on the study's findings and Egyptian Exchange listing requirements.
Billet projects target one million mt annually
Alongside its listing preparations, Al Ashry Steel has applied for two billet production licenses, each covering 500,000 mt of annual capacity, with combined investment estimated at EGP 12 billion. The projects aim to strengthen domestic feedstock supply and reduce reliance on imports.
The group produces and processes rebar, sections and flat steel, with operations also encompassing welded pipes, scaffolding, metal forming and lighting poles.
