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Pioneers Holding uses EGP 1.08B capital hike proceeds

Pioneers Holding uses EGP 1.08B capital hike proceeds

ArabFinance: Pioneers Holding Company for Financial Investments (PIOH) said it used the total capital increase proceeds worth EGP 1.08 billion until December 31st 2019, according to a May 19th disclosure to the EGX.

Meanwhile, the company used EGP 359.71 million of the proceeds in raising the capital of its subsidiaries.

In addition, a value of EGP 1.68 billion has been used in financing subsidiaries.   

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