Cairo – Mubasher: Hassan Allam Properties raised its stake in Six of October Development and Investment (SODIC) to 3.9% from 2.22%.

The transaction involved the purchase of 5.87 million shares for EGP 76.05 million at an average price of EGP 12.95 per share, according to a bourse disclosure on Sunday.

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

It is noteworthy to mention during the first quarter (Q1) of 2020, SODIC reported net profits of EGP 27.7 million, down from EGP 162.04 million in the corresponding period a year earlier.