Pioneers requests EGX to voluntarily suspend trading on stock
Updated 9/28/2021 10:58:00 AM
ArabFinance: Pioneers Holding (PIOH) has submitted a request to the Egyptian Exchange (EGX) to voluntarily halt trading on the company’s stock as of October 5th, 2021, for three consecutive sessions or until the listing committee decide on listing the company’s capital cut and name, according to a statement.
The company’s name shall be changed to Aspire Capital Holding for Financial Investments.
Moreover, the company seeks the listing committee’s approval on listing the shares of the demerged companies, namely Pioneers Properties for Urban Development and Gadwa for Industrial Development, on the EGX.
Accordingly, trading on the demerging company’s shares shall be resumed and trading on the shares of the two demerged companies shall start.
The shareholding structure for the three companies will be determined by the end of October 4th’s trading session.
These decisions came in line with the Financial Regulatory Authority’s (FRA) approval on the registry of Pioneers Properties and Gadwa.
Pioneers Holding operates in the financial services and securities brokerage sector. The company is engaged in the provision of comprehensive financial services for both retail and institutional investors, including brokerage services covering public and private sectors in restructuring, mergers, issuing of equity and debt capital, and market research.
