Edition:
United Kingdom

Sixth of October Development and Investment Co SAE (OCDI.CA)

OCDI.CA on Cairo Stock Exchange

12.95EGP
18 May 2019
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Latest Key Developments (Source: Significant Developments)

Egypt's Sodic Q1 Consol Profit Falls
Sunday, 19 May 2019 

May 19 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::Q1 CONSOL NET PROFIT 162 MILLION VERSUS EGP 212.1 MILLION YEAR AGO.Q1 CONSOL TOTAL REVENUE EGP 941.2 MILLION VERSUS EGP 512.1 MILLION YEAR AGO.  Full Article

Egypt's Sodic Signs Contract With NUCA For 500 Feddan Land
Thursday, 21 Mar 2019 

March 21 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::UPDATES ON 500 FEDDAN LAND AWARDED TO CO BY NUCA FOR ESTABLISHMENT OF AN INTEGRATED URBAN PROJECT.CONTRACT HAS BEEN SIGNED WITH NUCA RELATED TO AWARDED LAND.EXPECTED CONTRACTUAL VALUE FOR PROJECT TO BE BUILT ON 500 FEDDAN LAND ABOUT EGP 43 BILLION.SAYS NUCA WILL GET UPTO EGP 15.3 BILLION OVER 11 YEARS OUT OF CONTRACTUAL VALUE.SAYS PROJECT OT BE FLOATED IN Q4 2019.  Full Article

Egypt's Madinet Nasr Says Unable To Finalize Talks On Sodic Offer
Wednesday, 23 Jan 2019 

Jan 23 (Reuters) - MADINET NASR FOR HOUSING AND DEVELOPMENT ::BOARD UNABLE TO FINALIZE DISCUSSION ON SODIC OFFER TO BUY COMPANY.NO AGREEMENT REACHED ON SWAP FACTOR.  Full Article

Egypt's Madinet Nasr Updates On Sodic's Potential Acquistion Of Co
Sunday, 13 Jan 2019 

Jan 13 (Reuters) - MADINET NASR FOR HOUSING AND DEVELOPMENT ::UPDATES ON SODIC'S POTENTIAL ACQUISTION OF CO.SAYS FRA APPROVES UPTO 60 DAYS EXTENSION FOR SODIC TO COMPLETE DUE DILIGENCE AND FAIR VALUE STUDY.  Full Article

Egypt's SODIC Receives Award Letter For 500 Acre Plot In West Cairo
Monday, 17 Sep 2018 

Sept 17 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::RECEIVES AWARD LETTER FOR 500 ACRE PLOT IN WEST CAIRO EXPANDING ITS UNDEVELOPED LAND BANK TO A TOTAL OF 8 MILLION SQUARE METERS.SAYS PROJECT IS EXPECTED TO COMPRISE OVER 5,000 UNITS GENERATING AN ESTIMATED TOTAL SALES OF CIRCA EGP 43 BILLION OVER A PERIOD OF EIGHT YEARS.NUCA TO GET 14.2 BILLION OVER 11 YEARS OF WHICH EGP 8.5 BILLION ARE FIXED INSTALLMENTS ,IN ADDITION TO 15% OF ANNUAL COLLECTIONS.SAYS PROJECTED PAYMENTS IMPLY A LAND COST PER SQM OF EGP 2,300 ON A NET PRESENT VALUE BASIS DISCOUNTED AT 16 PERCENT.EXPECTS TO GENERATE SALES OF SOME EGP 150 BILLION OVER THE COMING 11 YEARS.  Full Article

Egypt's Sodic Q2 Consol Profit Rises
Wednesday, 15 Aug 2018 

Aug 15 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::Q2 CONSOL NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS EGP 161.1 MILLION VERSUS EGP 129.8 MILLION YEAR AGO.Q2 CONSOL TOTAL REVENUE EGP 538.1 MILLION VERSUS EGP 469.9 MILLION YEAR AGO.H1 CONSOL NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS EGP 372.9 MILLION VERSUS EGP 340.5 MILLION YEAR AGO.H1 CONSOL TOTAL REVENUE EGP 1.05 BILLION VERSUS EGP 1.17 BILLION YEAR AGO.  Full Article

Sodic, Madinet Nasr Appoint Advisers for Merger/Acquisition
Sunday, 20 May 2018 

May 20 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::UPDATES ON POSSIBLE COOPERATION BETWEEN CO AND MADINET NASR BY WAY OF MERGER OR ACQUISITION.EFG HERMES AND ZAKI HASHEM & PARTNERS, ATTORNEYS AT LAW, HAVE BEEN APPOINTED AS ADVISORS TO MNHD.APPOINTS CI CAPITAL AND MHR & PARTNERS (WHITE & CASE) AS ADVISORS.  Full Article

SODIC To Enter Into Talks With MNHD To Explore Strategic Alternatives
Wednesday, 11 Apr 2018 

April 11 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::CONFIRMS IT WILL ENTER INTO PRELIMINARY TALKS WITH MADINET NASR (MNHD) TO EXPLORE STRATEGIC ALTERNATIVES BY WAY OF MERGER OR ACQUISITION.  Full Article

Medinet Nasr To explore Potential Merger Or Acquisition With Sodic
Tuesday, 10 Apr 2018 

April 10 (Reuters) - MEDINET NASR FOR HOUSING AND DEVELOPMENT ::BOARD DISCUSSED POTENTIAL COOPERATION WITH SODIC THROUGH MERGER OR ACQUISITION.BOARD AUTHORIZED CHAIRMAN TO COMMUNICATE WITH SODIC ON POTENTIAL DEAL.BOARD APPROVES APPOINTMENT OF EFG HERMES AS FINANCIAL ADVISER.BOARD APPROVES APPOINTMENT OF ZAKI HASHEM & PARTNERS AS LEGAL ADVISER.  Full Article

SODIC To Develop Residential Tourism Project in Partnership
Sunday, 11 Mar 2018 

March 11 (Reuters) - SIXTH OF OCTOBER DEVELOPMENT AND INVESTMENT CO ::SIGNS TWO PARTNERSHIP DEALS TO DEVELOP RESIDENTIAL TOURISM PROJECT ON ABOUT 308 FEDAN PLOTS.OWNERS OF PLOTS TO HAVE PARTICIPATION OF 28 PERCENT AND CO 72 PERCENT OF TOTAL REVENUE OF RESIDENTIAL AND COMMERCIAL UNITS.EXPECTS TOTAL CUSTOMER CONTRACTS OF PROJECT TO REACH ABOUT EGP 15.2 BILLION DURING 7 YEARS.  Full Article

MIDEAST STOCKS-Saudi hit by profit-taking, financials drag major Gulf markets

* Seera Group tumbles on lower Q1 net-profit * 24 of 30 stocks on Egypt's index fall * Egypt's El Sewedy, SODIC slide on trading ex-dividend * Dubai's RAK Properties drops after Q1 results By Karina Dsouza and Abinaya Vijayaraghavan May 6 Saudi Arabia's stock market fell on Monday to its lowest point in eight months, hurt by profit-taking in its banks, while most major Middle Eastern markets also slid sharply. The Saudi index was down 1.5 percent, weaken