Sixth of October Development and Investment Company (SODIC) is looking to increase its issued and paid-in capital by EGP 13.56 mn to EGP 1.37 bn to finance its employee incentive and bonus schemes, Borsa News reports.

The capital will be distributed over 3,389,095 shares at a nominal value of EGP 4. SODIC has submitted its listing shares documents to the Egyptian Exchange, which is currently processing SODIC’s request for the increase, that is to be financed through company reserves.