Pioneers Holding Says to Invest 1.2 bln Pounds in 2014

Egyptian financial firm Pioneers Holding (PIOH.CA on the Egyptian Exchange) plans to spend 1.2 billion Egyptian pounds ($172 million) in 2014 to complete ongoing investments and implement new ones, the firm said in a bourse statement on Sunday.

The firm, which specialises in brokerage services, did not give details on its investment plans in the statement but said it was studying new opportunities.

Pioneers offers market research and investment banking for retail and institutional clients. It operates in Egypt, UAE and Bahrain.