EGX nods to listing of Pioneers Properties, Gadwa
Updated 10/10/2021 2:54:41 PM
ArabFinance: The listing committee at the Egyptian Exchange (EGX) decided to list the demerged company Pioneers Properties for Urban Development with an authorized capital of EGP 23 billion and issued capital of EGP 4.74 billion distributed over 1.054 billion shares at a par value of EGP 4.5 per share.
The shares of Pioneers Properties will be registered in the EGX’s database as of October 11th, the EGX revealed in a statement.
Additionally, the committee approved to list the shares Gadwa Industrial Development with an authorized capital of EGP 10 billion and issued capital of EGP 2.004 billion distributed over 1.054 billion shares at a par value of EGP 1.90 per share, according to a separate statement.
Gadwa will be listed on the EGX’s database starting from the trading session of October 11th.
These decisions come as results of the horizontal demerger of Pioneers Holding (PIOH) into a demerging company and two demerged companies.
It is worth noting that the EGX’s listing committee approved capital cut for Pioneers Holding.
Moreover, Pioneers Holding’s name will be changed to Aspire Capital Holding for Financial Investments, with its ticker symbol to be modified to (ASPI.CA).
