Beltone Investment Banking successfully concludes advisory on Dice’s founders consortium’s mandatory tender offer for Dice sports and casual wear


Cairo: 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.

About Beltone Investment Banking:

Beltone Investment Banking, a wholly owned subsidiary of Beltone Financial Holding, is a regional one-stop-shop for advisory and capital raising. With a team of skilled professionals who have accumulated critical knowledge and expertise from dealing with leading regional and international investment banks, Beltone Investment Banking has successfully executed deals totaling EGP115 billion across local and regional markets, with regional mandates that capitalize on high-growth sectors.

About Beltone Securities Brokerage:

Beltone Securities Brokerage, a wholly owned subsidiary of Beltone Financial Holding, offers comprehensive brokerage services tailored for both individuals and institutional investors. Leveraging our formidable market presence and the synergies within the Beltone network, Beltone Securities Brokerage aims to provide exceptional brokerage experience spanning multiple asset classes. With the recent relaunch of our Margin Lending service, featuring enhanced risk management and margin policies, we demonstrate our steadfast commitment to delivering top-notch financial solutions to our valued clients and investors.

About Beltone Financial Holding:

Beltone Financial Holding (EGX: BTFH.CA) is a leading financial services provider with a multi-decade track record of success in the MENA region. The Company offers a comprehensive and growing set of financial solutions such as brokerage, investment banking, asset management, equity research, and private equity, in addition to end-to-end non-banking financial institutions (NBFIs) including leasing, factoring, consumer finance, venture capital, microfinance and mortgage. The Company is driven by a vision to redefine the financial ecosystem in the region by capitalizing on global expertise, knowledge, and disruptive, value-accretive solutions that unlock limitless opportunities for clients, to drive market value and impactful results.

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Investor Relations Contacts:
Mamdouh Abdelwahab
Chief Communications Officer


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