Following the division of Pioneers Holding into three entities (recap here), the EGX approved the company’s rebranding into “Aspire Capital Holding”, which now trades under the ticker ASPI.
Who is affected🤷: The rebranding is just that, a rebranding. It only affects the name of the parent company, which now operates exclusively as a financial services company. The two other companies, Pioneers Properties (PRDC) & Gadwa Industrial Developments (GDWA), operate in real estate & industrial investments, respectively.
Stock performances📉: Since the companies’ stocks debuted on October 11th, 2021, ASPI fell by 1.04%, while PRDC & GDWA fell by 20% & 3.94%, respectively.
