LONDON - Ezz Steel Company - S.A.E has had its Global Depositary Shares (GDS) restored to the Official List by the Financial Conduct Authority (FCA), effective as of today. The securities, which had been previously removed, are now once again listed and can be traded on the London Stock Exchange (LON:LSEG).
The GDS, each representing three common shares of Ezz Steel, are classified under two separate categories. The Rule 144A GDS, with ISIN US26934Q1085, and the Regulation S GDS, with ISIN US26934Q2075, are certificates representing certain securities, specifically depository receipts.
This restoration marks a significant moment for Ezz Steel, as the availability of its shares on a recognized investment exchange can play a vital role in attracting international investors and increasing the liquidity of its shares.
The FCA's announcement indicates the renewed ability for investors to trade Ezz Steel's shares on one of the world's most prominent financial platforms, the London Stock Exchange. The notice from Issuer Management, a division of the FCA, was disseminated through RNS, the news service of the London Stock Exchange.
It is important to note that the SEDOL numbers, which serve as a Stock Exchange identifier allocated by the London Stock Exchange, can be found in their respective dealing notices. The restoration of Ezz Steel's listings is a procedural event that follows specific regulatory guidelines and requirements for securities to be admitted back onto the Official List.
The reinstatement of Ezz Steel's GDS to the Official List is based on a press release statement and provides the company with an opportunity to engage with a broader investor base through the London Stock Exchange. As of now, there has been no additional information provided regarding the reasons for the initial removal or the specific terms of the restoration.
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