Cairo – Mubasher: Hassan Allam Properties raised its stake in Six of October Development and Investment (SODIC) to 5.1% from 5%.

The transaction involved the purchase of 370,000 shares at a value of EGP 5.92 million, averaging EGP 16 per share, according to a statement to the Egyptian Exchange (EGX) on Tuesday.

EFG Hermes Securities Brokerage acted as a broker in 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.