Cairo – Mubasher: Rimco Investments LLC has increased its stake in Sixth of October for Development and Investment (SODIC) from 2.89% to 7.44%, the Egyptian Financial Group Hermes Holding (EFG Hermes) said Thursday in a statement to the Egyptian Exchange (EGX).
Rimco bought 15.58 million shares for EGP 230.37 million, equivalent to EGP 14.87 per share.
By 10:27 am Cairo time, SODIC’s stock rose 1.35% to EGP 15.
