Beltone Investment Banking Successfully Concludes Advisory on Dice’s Founders Consortium’s Mandatory Tender Offer for Dice Sports and Casual Wear

Cairo, November 22, 2023: Beltone Financial Holding ("Beltone"), one of the fastest-growing financial institutions, announces that its wholly owned subsidiary Beltone Investment Banking has successfully completed advisory services for Toma for Commercial and Industrial Investments in collaboration with Maged Toma (“Consortium”) on the Mandatory Tender Offer (“MTO”) submitted for Dice Sports and Casual Wear (“Dice”), an EGX-listed company with a Market Capitalization of approximately EGP1.6 billion.

Prior to the MTO, the Consortium held a combined ownership of 32.9% in Dice. Accordingly, the MTO aimed to acquire up to 838 million shares representing the available 46.9% stake being offered in the MTO. It is worth noting that the submitted MTO aimed to purchase up to the available number shares with no minimum number of shares being targeted by the consortium.

Post the MTO, the consortium was able to acquire 64.97% of available shares offered in the MTO process, equivalent to approximately 545 million shares, resulting in a total ownership percentage of 63.36% in Dice.

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