Cairo –  Dice Sport and Casual Wear has announced that raising its capital process was oversubscribed by 94.84%.

The company added that 1.25 billion shares were subscribed at a value of EGP 251.32 million, according to a recent bourse filing.

Dice earlier offered a total of 1.32 billion shares for subscription at EGP 265 million, equivalent to EGP 0.20 per share.

Last November, the listed firm’s board recommended to increase the authorised capital to EGP 500 million from EGP 300 million.

During the first quarter (Q1) of 2022, Dice generated EGP 10.08 million in consolidated net profit after tax, higher than EGP 4.06 million in Q1-21.

The company’s net sales increased to EGP 383.78 million in Q1-22 from EGP 297.62 million in Q1-21.

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