Pioneers Holding to List 40% of Rooya Stake on Egypt Bourse

Thursday, 21st December 2017
by Invest Gate

A general view of the Egyptian stock exchange in Cairo August 18, 2013. Egypt’s stock market fell sharply on Sunday as it resumed trading after hundreds of people were killed in a crackdown by the army-backed government on supporters of the Muslim Brotherhood. Banks and the stock market reopened for the first time since Wednesday’s carnage, with shares rapidly falling 2.5 percent. REUTERS/Louafi Larbi (EGYPT – Tags: )

Egypt’s financial services firm, Pioneers Holding, will list 40% of its shares in Rooya Real Estate on the Egyptian stock market in the first half of 2018, CEO Walid Zaki tells Reuters.

Pioneers Holding Company for Financial Investments purchased 60% of Rooya Real Estate Investment Company’s shares for EGP 1.226 bn in 2015.

Rooya owns 9 mn square meters of real estate, with about 6 mn currently under development.

Pioneers Holding Company for Financial Investment is a public company, listed on the Egyptian stock exchange since June 2008.

Pioneers Holding, founded in 2007, operates within the diversified financials sector focusing on Investment, Banking, and Brokerage. It has 34 subsidiaries operating across North America, Northern Africa and Middle East.