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Pioneers Holding for Financial Investments (PIOH) has sold its entire stakes in seven companies.

 

Pioneeers Properties for Urban Development has acquired Pioneer Holding’s entire stake of 76.45% in Cairo Housing and Development Company (ELKA) in a transaction valued at a total of EGP 1.085 billion or EGP 15.77 per share.

 

The company has sold its 39.89% stake or 63.82 million share in Arab Dairy Products Co. Arab Dairy’s (Panda) (ADPC) for Gawda for Industrial Development at total value of EGP 735.86 million, equivalent to an average price of EGP 11.53 per share.

Moreover, Pioneers Properties has acquired Pioneers Holding’s 33.41% stake in United Company for Housing and Development (UNIT) for EGP 433.73 million, equivalent to an average price of EGP 4.73 per share.

 

As for pioneers Holding’ 59.69% stake in Giza General Contracting and Real Estate Investment Company (GGCC), it has been sold to Pioneers Properties for EGP 440.55 million shares of EGP 0.504 per share.

 

Additionally, the company has sold its stake of 26.15% in Cairo Housing and Development Company (ELKA) to Gadwa for EGP 533.87 million.

 

The company also sold its 45.73% stake, representing 352.149 million shares, in Universal for Paper and Packaging Materials (Unipack) (UNIP) for Gadwa in a transaction valued at a total of EGP 235.23 million or EGP 0.668 per share.

 

Meanwhile, Pioneers Holding has sold its 16.57% stake in El Saeed Contracting and Real Estate Investment Company (SCCD) (UEGC) to Pioneers Properties for EGP 106.30 million, equivalent to an average price of EGP 0.843 per share.

 

It is worth noting that block-trading transactions were carried out on the seven companies’ stocks yesterday within the framework of the horizontal demerger of Pioneers Holding.

 

Pioneers Holding is an Egypt-based company that operates in the financial services sector, including brokerage services covering public and private sectors in restructuring, mergers, issuing of equity and debt capital, and market research.

 

Arab Finance