Cairo – Mubasher: Target For Real Estate Investment, Development, Agricultural Reclamation, and Tourism Development sold its entire stake of 6.94% in Dice Sport and Casual Wear.
Target sold 36.8 million shares in Dice for EGP 49.1 million at an average price of EGP 1.33 per share, according to a statement to the Egyptian Exchange (EGX) on Monday.
EFG Hermes Securities Brokerage acted as the broker in the transaction.
In a separate statement, Dice announced that the shareholder Ali Mahmoud Abdel Latif raised his stake to 17.28% from 10.18% by purchasing 37.61 million shares for EGP 50.11 million at an average price of EGP 1.33 per share.
Beltone Securities Brokerage served as the broker in the deal.
It is worth mentioning that during the first quarter of 2020, Dice reported net losses of EGP 43.27 million, against net profits of EGP 31.06 million in the year-ago period.
