Cairo – Mubasher: The Egyptian Exchange (EGX) decided to resume trading on the stocks of Pioneers Holding Company for Financial Investment and five of its subsidiaries. 

Upon a request from the Financial Regulatory Authority (FRA), trading was resumed on the stocks of Pioneers Holding, Giza General Contracting and Real Estate Investment Co, United Company for Housing and Development, Elsaeed Contracting and Real Estate Investment Company, El Kahera Housing, and Electro Cable Co – Egypt, according to a bourse statement on Tuesday.

The FRA is currently studying Pioneers Holding’s offer to raise its shareholding in five of its units to 90%.

It is worth mentioning that during the first nine months of 2019, Pioneers Holding reported net profits of EGP 1.231 billion, compared to EGP 821.68 million in the year-ago period.