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Monday, 22 March 2021

Also on our Radar on 22 March 2021

Dice will hire an advisor to prepare a fair value report after its shares shed more than half their value since late February, triggering a regulation that grants the Financial Regulatory Authority the right to order a valuation through an independent financial advisor, the regulator said in a filing (pdf). The clothing manufacturer’s shares closed yesterday’s session at EGP 1.52 apiece after losing 12.47% in intra-day trading, representing a 55% decrease from EGP 3.37 on 22 February. Dice rotated out of the benchmark EGX30 earlier this year due to the sustained loss of market cap in the index’s latest rebalancing under new inclusion criteria.

Other things we’re keeping an eye on this morning:

  • Heliopolis Housing has postponed offering the conditions booklet for developing the Heliopark real estate project in New Cairo to 4 April, with the deadline for investors to submit bids extended to 16 June.
  • Egypt and Italy are mulling setting up direct shipping lines between the two countries’ ports.

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