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| 17 December, 2017

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

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

The Egyptian Exchange bell is seen at the stock exchange in Cairo, March 12, 2015.

The Egyptian Exchange bell is seen at the stock exchange in Cairo, March 12, 2015.

REUTERS/Mohamed Abd El Ghany
CAIRO- 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, CEO Walid Zaki told Reuters on 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.



($1 = 17.7900 Egyptian pounds)

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(Reporting by Ehab Farouk; Writing by Nadine Awadalla) ((Nadine.Awadalla@thomsonreuters.com;))