Six of October Development and Investment (OCDI)

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News

7 March 2019 00:00 PM SODIC logs EGP 451m profits in FY18

Cairo – Egypt: The consolidated income statements of Sixth of October for Development and Investment (SODIC) showed a decline of 24.7% in profits during fiscal year 2018 compared to the prior year. Earnings shrank to EGP 450.9 million in FY18 from …

Financial Results

17 February 2019 11:51 AM SODIC eyes closing EGP 7.2bn contracts in 2019

Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) is looking to seal EGP 7.202 billion contracts in 2019. The real estate company aims to deliver 1,151 units this year at a value of EGP 5.154 billion, it said in a statement …

Companies Investments

3 February 2019 00:43 PM Emaar Misr denies talks to acquire Madinet Nasr Housing

Cairo – Mubasher: Emaar Misr for Development, a subsidiary of UAE-based Emaar Properties, on Sunday denied negotiations with Madinet Nasr Housing and Development (MNHD) over an acquisition. This came as a response to one of the newspapers that …

Mergers and Acquisitions

23 January 2019 02:06 PM MNHD tops EGX’s value after dropping merger talks with SODIC

By: Heba El-Kordy Cairo – Mubasher: Madinet Nasr Housing and Development’s (MNHD) stock was the most active stock in terms of traded value on the Egyptian Exchange (EGX) after it resumed trading. By 12:20 pm Cairo time, the stock lost 2.16% to EGP …

Trading Activities

23 January 2019 00:40 PM MNHD drops merger talks with SODIC

The two companies have disagreed on the terms of the swap transaction

Global Economy

23 January 2019 00:30 PM EGX suspends trading on SODIC, MNHD

Cairo – Mubasher: The Egyptian Exchange (EGX) has suspended trading on the stocks of Madinet Nasr Housing and Development (MNHD) and Sixth of October for Development and Investment (SODIC) starting from Wednesday, 23 January. Trading on MNHD’s …

Management Decisions

23 January 2019 00:09 PM MNHD drops merger talks with SODIC

Cairo – Mubasher: Madinet Nasr Housing and Development’s (MNHD) board of directors has decided to suspend the merger and acquisition negotiations with Sixth of October for Development and Investment (SODIC). The two companies have disagreed on the …

Real estate

9 December 2018 01:16 PM SODIC inks EGP 800m settlement with Illicit Gains Authority

The company will reimburse the sum through four installments at a total value of EGP 550 million

Global Economy

25 November 2018 00:17 PM SODIC’s arm to buy EGP 14.5m administrative unit in Sheikh Zayed

Cairo – Mubasher: Grand Investment Capital’s board of directors has approved to sell an administrative unit in Sheikh Zayed at a cost of EGP 14.46 million. The board agreed to sell the unit spanning approximately 478,300 square metres to Sodic …

Companies Investments

14 November 2018 03:36 PM Sales of Sheikh Zayed project to begin in 2019 - SODIC

Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) is looking to launch its project established on Al Yosr land in Sheikh Zayed for sale in 2019. The final regulations approved by the New Urban Communities Authority (NUCA) …

Real estate

1 November 2018 00:22 PM Ekuity Holding raises stake in SODIC to 4.9%

Cairo – Mubasher: Financial Brokerage Group, a subsidiary of EFG Hermes Holding, on Thursday said that Ekuity Holding has raised its stake in Sixth of October for Development and Investment (SODIC) to 4.9% from 4.86%. Ekuity Holding has purchased …

Insider Trading & Treasury Stocks

24 October 2018 00:44 PM Sales to rise 14% YoY by end 2018 - SODIC

Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) on Wednesday announced that it has amended its expectations for 2018 contracts to EGP 6.5 billion. The real estate developer expected the value of its contracts to increase …

Macroeconomics

24 October 2018 11:59 AM SODIC OKs EGP 27m capital hike to finance motivation, reward system

Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) on Wednesday announced that its board of directors has approved increasing the company’s capital by EGP 27.5 million for financing the company's motivation, reward system. …

Corporate Actions

18 October 2018 06:39 PM SODIC shareholders to benefit from Madinet Nasr acquisition

Cairo - Mubasher: MubasherTrade Research is recommending Buy with “Low Risk” on the stock of Sixth of October Development and Investment Company (SODIC) with a price target (PT) of EGP 33.5 per share. SODIC announced that its board of directors …

Real estate

16 October 2018 02:44 PM MNHD appoints legal advisor for potential acquisition by SODIC

Cairo – Mubasher: Madinet Nasr Housing and Development’s (MNHD) board of director has appointed Zaki Hashem and Partners Law Firm as its legal advisor for Sixth of October for Development and Investment’s (SODIC) acquisition offer. The company …

Companies Investments

16 October 2018 01:30 PM B Investments mulls SODIC’s offer to acquire MNHD

Cairo – Mubasher: B Investments Holdings is currently considering the offer submitted by Sixth of October for Development and Investment (SODIC) to acquire a stake in Madinet Nasr Housing and Development (MNHD). The company is studying the offer …

Mergers and Acquisitions

14 October 2018 03:40 PM SODIC to acquire 51% stake in MNHD

Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) is planning to submit a purchase offer to acquire around 51% stake in Madinet Nasr Housing and Development (MNHD) through a share swap. Upon the deal, Sodic will exchange …

Companies Investments

14 October 2018 00:22 PM EGX suspends trading on SODIC, MNHD

Cairo – Mubasher: The Egyptian Exchange (EGX) on Sunday has suspended trading on the stocks of Madinet Nasr Housing and Development (MNHD) and Sixth of October for Development and Investment (SODIC). This decision follows news published in a …

Management Decisions

17 September 2018 03:02 PM SODIC expects EGP 43bn sales from newly-acquired plot in Sheikh Zayed

Cairo – Mubasher: Sixth of October Development & Investment Company (SODIC) on Monday received a land plot in Sheikh Zayed, which it previously said would use for an expansion scheme. Allocated by the New Urban Communities Authority (NUCA), the …

Real estate

5 September 2018 01:24 PM MNHD-SODIC merger to complete end-2018 - B Investments

Cairo – Mubasher: Co-founder and member of B Investments Holdings’ board of director said that negotiations between Madinet Nasr Housing and Development (MNHD) and Sixth of October for Development and Investment (SODIC) over merger or acquisition …

Companies Investments

15 August 2018 11:11 AM SODIC profits up 10% in H1

Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) on Wednesday posted a 9.5% year-on-year increase in consolidated profits for the first half of 2018. The company has generated EGP 374.09 million in profits at the end of …

Financial Results

20 May 2018 01:41 PM MNHD appoints EFG Hermes as advisor for possible collaboration with SODIC

Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) on Sunday said it has hired EFG Hermes and Zaki Hashem & Partners Law Firm as the company’s advisors for the potential merger and acquisition transaction with Sixth of October for …

Real estate

16 May 2018 03:47 PM Pharos Research maintains FV of SODIC at EGP 45.5

Cairo – Mubasher: Pharos Research has maintained their fair value (FV) for Sixth of October for Development and Investment’s (SODIC) stock at EGP 45.5, with an ‘Overweight’ recommendation. This was mainly driven by SODIC’s projects in Eastern …

Stock Evaluations

16 May 2018 11:29 AM SODIC logs EGP 212.11m profit in Q1

Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) on Wednesday posted it has achieved EGP 212.11 million in consolidated profits for the first quarter of 2018, slightly above EGP 211.9 million in Q1-17, including minority …

Real estate

8 May 2018 00:33 PM CI Capital to advise SODIC on merger with MNHD

Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) has hired CI Capital as an advisor to provide consulting on Madinet Nasr Housing and Development’s (MNHD) merger or acquisition offer. Board member of MNHD Alaa El Din Saba …

Mergers and Acquisitions