Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) said it sold Wednesday 119,896 treasury shares, thus it completed selling 737,500 treasury shares.
On 14 July 2015, the company bought 737,500 treasury shares, which represent 0.22% of capital.
Earlier this month, the board approved selling them within the stock’s market price limits, thus complying with EGX regulation that bans a company from holding treasury shares for more than a year.
The stock rose by 2.3% to EGP11.40 during yesterday’s session.
