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DICE announces indicative price range for public offering on EGX - Daily News Egypt

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DICE announces indicative price range for public offering on EGX

73.2% of the company’s H1 2017 revenues were denominated in USD

DICE Sport and Casual Wear announced in a press statement on Saturday the indicative price range for the public offering of up to 33,046,420 existing ordinary shares, accounting for 62.35% of the company’s outstanding share capital, listed on the Egyptian Exchange (EGX) currently owned by National Textile (Grand View) and other minority investors.

According to the press release, the indicative price range for the offer price has been set between EGP 22.60 and EGP 27.10 per share.

DICE has successfully strengthened its position as a beneficiary of the flotation of the Egyptian pound, and they increased their competitiveness globally, said DICE’s Chief Executive Officer Nagy Toma, adding that they look forward to reinforcing their current position in the apparel and ready-made garment industries, both domestically and globally.

The company is considered to be one of the leading integrated, export-oriented apparel and ready-made garments manufacturers, with 73.2% of their first half (H1) of fiscal year (FY) 2017 revenues denominated in USD, in addition to their owned apparel retail brand in Egypt, which made up around 10.5% of their overall H1 2017 revenues.

Topics: DICE EGX

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