Hassan Allam Properties increases stake in SODIC

Hassan Allam Properties raised its stake in Six of October Development and Investment (SODIC) to 5 percent from 4.91 percent.

The transaction involved the purchase of 310,000 shares at a value of 4.8 million Egyptian pounds, averaging EGP 15.5 per share.

EFG Hermes Securities Brokerage acted as a broker on the transaction.

During the first nine months of 2020, SODIC reported net profits of 537.84 million Egyptian pounds, compared to 506.09 million pounds in the year-ago period, including minority shareholders’ rights.