Prime Holding For Financial Investments S.A.E. (CASE:PRMH) signed a letter of intent to acquire Pharos Securities Brokerage and Pharos Investment Banking from Pharos Holding S.A.E., on June 25, 2019. This transaction is subject to completion of the due diligence, approval of the Financial Regulatory Authority and the finalization of the acquisition agreement. The Board of Directors of Prime Holding has approved the proposal. As of August 19, 2019, Prime Holding announced the completion of the due diligence process for the acquisition. A preliminary acquisition deal will be signed after obtaining a no-objection nod from the Egyptian Financial Regulatory Authority. Prime Holding For Financial Investments S.A.E. (CASE:PRMH) cancelled of the acquisition of Pharos Securities Brokerage and Pharos Investment Banking from Pharos Holding S.A.E., on June 25, 2020.