Cairo – Mubasher: Hassan Allam Properties raised its stake in Six of October Development and Investment (SODIC) to 5% from 4.91%.

The transaction involved the purchase of 310,000 shares at a value of EGP 4.8 million, averaging EGP 15.5 per share, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

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

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