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FRA extends deadline for Dice to submit FV study

FRA extends deadline for Dice to submit FV study
Dice turned to net losses of EGP 54.73 million in 2020
Dice
DSCW
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Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved a request by Dice Sport and Casual Wear to extend the deadline for submitting the fair value (FV) study to 10 May, according to a bourse disclosure on Wednesday.

In March, the FRA ordered Dice to assign a financial advisor to assess the FV of the company’s stock.

The FRA has the right to ask for a FV estimation when a listed company’s stock value rises or falls by more than 50% in a period not exceeding three months or by more than 75% in a period not exceeding six months without any significant updates that justify this change.

In 2020, Dice turned to net losses of EGP 54.73 million, against net profits of EGP 120.8 million in 2019, including minority shareholders’ rights.