Egypt - Pioneers Holding (PIOH) started purchasing treasury stocks without exceeding 10% of the total floated share, to support the share price in the market, according to the company's June 7th statement filed the Egyptian Exchange.
The company said the transaction will last until September 7th and a part of purchased shares may be allocated to an employee stock ownership plan.
The company decided to retain the shareholders' stake in profit for 2019.
Pioneers Holding is an Egypt-based public shareholding company that 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.
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