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Pioneer Holding OKs 30% capital hike to EGP 4.68bn

Pioneer Holding OKs 30% capital hike to EGP 4.68bn
The board also agreed on increasing capital by EGP 1.08 billion distributed over the shares’ par value
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Cairo – Mubasher: The board of Pioneers Holding Company for Financial Investment has approved raising issued capital by 30% of the company’s current capital to EGP 4.68 billion from EGP 3.6 billion.

The board also agreed on increasing capital by EGP 1.08 billion distributed over the shares’ par value, in addition to administrative expenses of 10 piasters, the company said in a filing to the Egyptian Exchange (EGX) on Wednesday.

Pioneers Holding’s capital amounts to EGP 3.6 billion distributed over 708.4 million shares at a par value of EGP 5 per share.