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Shares in Egypt’s SODIC jump 7 percent after stake offer from UAE’s Aldar Properties

Shares in Egyptian real estate company SODIC rose 7 percent at the market open on Sunday, Refinitiv data showed, following a majority stake offer from Aldar Properties.

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The UAE company announced earlier that it submitted an offer for a stake of 51 percent minimum, with an indicative share price in the range of of 18-19 Egyptian pounds ($1.15-$1.22) per share.

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