Pioneers Holding says to list 40% of Rooya stake on Egypt bourse

Pioneers Holding, one of Egypt’s largest financial services firms, will list 40 percent of its Rooya Real Estate shares on the Egyptian stock market in the first half of 2018, chief executive Walid Zaki told Reuters Sunday.

Egypt’s Pioneers Holding Company for Financial Investments bought 60 percent of Rooya Real Estate Investment Company’s shares for 1.226 billion Egyptian pounds ($68.92 million) in 2015.

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

Source: Reuters