Cairo – The Financial Regulatory Authority (FRA) greenlighted the mandatory offer of Toma for Commercial and Industrial Investments as well as Maged Samir Tama Thomas to acquire 46.90% of Dice Sport and Casual Wear’s share capital.

The consortium will buy 838.13 million shares in Dice at a price of EGP 0.65 per share, according to a bourse statement.

It is worth highlighting that the FRA granted its approval for the potential acquisition on 17 October 2023.

Last September, Dice announced a preliminary offer for 1.60 billion of its shares, which was referred to its board members for consideration.

In the January-June 2023 period, Dice recorded higher consolidated net profits after tax at EGP 121.16 million, versus EGP 25.44 million a year earlier, including minority interest.

The sales hike to EGP 1.44 billion in the first half (H1) of 2023 from EGP 903.66 million in H1-22, while the basic earnings per share (EPS) grew to EGP 0.06 from EGP 0.05.

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