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SODIC hires EFG Hermes, CI Capital as advisors for rights issue

SODIC hires EFG Hermes, CI Capital as advisors for rights issue
SODIC
OCDI
-2.60% 44.56 -1.19
EFG Holding
HRHO
-2.49% 17.65 -0.45
Property developer Sixth of October Development & Investment Co. (SODIC) has appointed EFG Hermes and CI Capital as financial advisors for its planned rights issue, Alborsa newspaper reported.
Hisham Gohar, head of investment banking and Managing Director, CI Capital, said that the roadshow will focus on introducing shareholders with the company's future plans which was announced by SODIC's board to invest the rights issue and the feasibility of the projects and their profitability due to the limitation of the rights issue on shareholders on record date of September 28.
The announced rights issue will start at October until October 27.
SODIC announced that it will use the rights issue worth EGP 1 billion in developing 301 feddans in New Cairo.