Pioneers Holding plans to invest EGP 2.9 bn this year

INVESTMENT WATCH- Pioneers Holdings is planning to invest EGP 2.9 bn “in a variety of sectors” this year, according to an EGX disclosure (pdf). The investments will be financed partially through EGP 1.8 bn in divestments, including a partial exit from Rooya Real Estate Investment Company and other ventures. Pioneers had previously announced its intention to list 40% of Rooya on the EGX in 1H2018. The remaining EGP 1.1 bn of its investments will be financed through its 30% capital increase.