Pioneers Holding adopts the report of the Investment Authority to assess the company’s assets for the purpose of division

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Cairo – Mubasher: Pioneers Holding for Financial Investments announced the approval of the Board of Directors for the approval of the final report of the committee formed by the General Investment Authority to assess the company’s assets and liabilities, with the aim of dividing it into 3 companies, one divided company and two divided companies with the same shareholders and the same shareholding ratios.

The company said in a statement to the Egyptian Stock Exchange today, that the report concluded that the company’s net equity of 7.04 billion pounds is distributed as follows:


The company explained that the horizontal division method was relied on as a basis for the company’s division process, so that the company remains the dividing company and its issued capital is reduced by reducing the nominal value of their names, and its purpose is to participate in the establishment of companies that issue securities or to increase their capital.

It indicated that it retains its licenses issued by the Financial Supervisory Authority and is listed on the Egyptian Stock Exchange, and thus results in the following division:

During the first quarter of 2021, Pioneers Holding Company for Financial Investments achieved profits of 299.66 million pounds, compared to profits of 271.27 million pounds in the comparative period of 2020, taking into account minority rights.

Revenues from the company’s activities rose during the period to 2.04 billion pounds, compared to 1.7 billion pounds in the comparable period last year.

At the level of independent businesses, the company’s profits amounted to 4.13 million pounds, compared to profits of 118.4 million pounds in the first quarter of last year.

For trading and investment in the Egyptian Stock Exchange Press here

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