By Zeinab Omran
Cairo Financial Holding (CFH) snapped up the role of financial consultant to the public offering of 10 percent of the shares of the Dice clothing company listed on the Egyptian stock market.
Dr. Victor Fakhry, member of the Board of Directors of Dice Sports and Casual Wear Company, said his company is in the process of contracting CFH to helm the process of preparing the fair value of the company’s shares in preparation for a public offeringof 10 percent of them, equivalent to 700,000 shares.
It became clear that the public offering of 10 percent is a preliminary step toward adjusting the affairs of Dice to bring them more in line with the requirements of the Egyptian stock exchange, which also required it to raise the percentage of free circulation a minimum of 5 percent, in addition to raising the number of investors to 100.
Dice was close to the acquisition of all of the shares of the Master Line textile production company, Fakhry added. He elaborated that they were only waiting for an appraisal of the fair value of the shares from Gadwa Consulting due tomorrow.
In the first quarter of the 2012 fiscal year, Dice showed a net profit of EGP 1.534 mn, compared with the EGP 230,873 in the first quarter of the 2011 fiscal year: a growth rate of 564.4 percent. The share capital issued and paid to Dice exceeds EGP 28 million distributed over seven million shares at a nominal value of EGP 4 per share.