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ArabFinance: Hassan Allam Properties purchased 5.87 million shares in Six of October Development & Investment (SODIC) - (OCDI), according to an August 9th disclosure to the Egyptian Exchange.
The value of the new equity stands at EGP 76.05 million or an average price of EGP 12.95 per share.
Hassan Allam has raised its ownership stake in SODIC to 3.90% from 2.22% following this deal, which was executed through EFG Hermes Securities Brokerage.
During the first three months of 2020, SODIC reported a consolidated net profit of EGP 27.85 million.
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