Shares in Egypt's SODIC soar 7% after stake supply from Aldar

A car drives previous Egyptian developer SODIC headquarters constructing on the outskirts of Cairo, Egypt, on November 13, 2016. REUTERS/Amr Abdallah Dalsh

CAIRO (Reuters) – Shares in Egyptian proper estate company SODIC rose 7% at the market start on Sunday, Refinitiv data showed, following a majority stake supply from Aldar Properties.

The UAE company launched earlier that it submitted a recommendation for a stake of 51% minimum, with an indicative half price within the differ of of 18-19 Egyptian pounds ($1.15-$1.22) per half.

($1 = 15.6200 Egyptian pounds)

Reporting by Ehab Farouk; Writing by Nadine Awadalla, bettering by Louise Heavens

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Shares in Egypt’s SODIC soar 7% after stake supply from Aldar

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