Cairo – Mubasher: Pioneers Holding Company for Financial Investment has used its total capital raise proceeds amounting to EGP 1.08 billion at the end of 2019.

An amount of EGP 1.68 billion has been used to finance the company’s subsidiaries, while EGP 359.7 million has been used to finance the capital raise of subsidiaries, according to a bourse disclosure on Tuesday.

It is noteworthy to mention that in 2019, the company logged EGP 1.35 billion in net profits, compared to EGP 1.22 billion in 2018.