Egypt  - Beltone Financial Holding, one of the fastest-growing financial institutions, has announced that its wholly owned subsidiary Beltone Investment Banking has advised Toma for Commercial and Industrial Investments and Maged Toma, the founders consortium, on the Mandatory Tender Offer (MTO) for Dice Sports and Casual Wear, an EGX-listed company with a market capitalization of about EGP 1.6bn.

The consortium owned 32.9% of Dice before the MTO, which aimed to acquire up to 838 million shares, or 46.9% of the available stake. The MTO had no minimum number of shares as a target.

The consortium acquired 64.97% of the available shares in the MTO process, or about 545 million shares, increasing its total ownership in Dice to 63.36%.

Beltone Investment Banking acted as the financial advisor for the MTO, directing the transaction structure and execution. Beltone Securities Brokerage acted as the execution broker. Matouk Bassiouny and Hennawy acted as the legal advisor.

© 2022 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).