SHARE Aldar Properties, the UAE’s biggest listed developer, is looking to buy a majority stake in Egypt’s Sixth of October for Development and Investment Company (Sodic). The Abu Dhabi-based developer is leading a consortium that submitted a non-binding offer of 18-19 Egyptian pounds per share, valuing Sodic at 6.6 billion Egyptian pounds ($421 million) at its mid-point, it said in a statement to the Abu Dhabi Securities Exchange, where its shares trade. The offer is a 14 per cent premium on last week's closing price. “Aldar believes that its offer represents a compelling liquidity event and value proposition for Sodic’s shareholders, reflecting the company’s robust fundamentals and share price performance over the last 12 months,” the developer said.