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

CAIRO

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

Egypt’s Pioneers Holding Company for Financial Investments bought 60 per cent 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.