Cairo – Mubasher: The Securities Listing Committee approved listing the shares of Pioneers Properties for Urban Development, the new, divided company arising from the division of Pioneers Holding Company for Financial Investments into 3 joint and divided companies, with an authorized capital of 23 billion Egyptian pounds, and an issued capital of 4.74 billion pounds. distributed over 1.05 billion shares, with a nominal value of 4.5 Egyptian pounds per share, in the Egyptian Securities Listing Schedule.
The stock exchange said in a statement today, that this is a result of the restructuring by dividing horizontally, as well as the availability of minimum capital conditions and the total number of shares, in light of the fact that the company’s division was carried out in accordance with the horizontal division method with the book value of the share and taking the financial statements for the fiscal year ending on December 31, 2020 as a basis. for the split date.
The committee agreed that the company’s shares will be listed on the stock exchange database as of the beginning of the trading session on Monday, October 11, 2021.
The committee also agreed that the company would be temporarily housed in the same sector as the dividing company (non-bank financial services), provided that the indices management in the stock exchange would be notified of the transfer of the company’s housing to the “real estate” sector in light of the company’s actual financial statements published on the date of the periodic review of the indicators on 31 December 2021.
The Stock Exchange clarified that the Operations Committee (Trading) will determine the opening price and the market in which the company’s shares will be traded in light of the trading rules, procedures and controls in force in the Egyptian Stock Exchange.
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