Pioneer Holding increases stake in Cairo Housing

Pioneer holding purchased 12mln shares

Aerial View of Cairo city. Image used for illustrative purpose.

Aerial View of Cairo city. Image used for illustrative purpose.

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ArabFinance: Pioneer Holding has increased its stake in Cairo Housing and Development Company from 63.12% to 76.45%, according to a statement released on December 20th.

Pioneer holding purchased 12 million shares at EGP 14.50 per share.

On the other hand, Wadi Consulting sold its 12.33% stake in Cairo Housing with the total value of EGP 174 million.

Cairo Housing will sell an administrative building in Nasr City for EGP 150 million.

Cairo Housing is an Egypt-based firm engaged in real estate and housing development operations.

The listed company’s main activities include acquiring, selling, and leasing lands and buildings as well as city planning and infrastructure construction activities

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