Cairo – Munasher: Pioneers Holding Company for Financial Investment’s board of directors have approved the listing of Rooya Group on the Egyptian Exchange (EGX).

Pioneers owns a controlling stake of 60% of Rooya’s shares, which it acquired for EGP 1.2 billion in March 2015.

The financial investment company revealed its plan to offer part of Rooya’s shares in an initial public offering (IPO) of more than EGP 1 billion.