ArabFinance: Dice Sport and Casual Wear (DSCW) announced that its extraordinary general meeting (EGM) held on February 12th has approved the board of directors’ proposal to raise authorized and issued capitals, according to a statement filed to the Egyptian Exchange (EGX).

Accordingly, the company’s authorized capital is set to increase to EGP 500 million from EGP 300 million.

The EGM also approved raising the company’s issued capital to EGP 371 million from EGP 106 million.

The increase in issued capital amounts to EGP 265 million and will be financed through the issuance of 1.36 billion shares at a nominal value of EGP 0.20 per share.

Moreover, the EGM agreed on the amendment of Article 4, 6, and 7 of the company’s Articles of Association.

Dice is an Egypt-based company engaged in the casual wear garments and textile industry.

The company manufactures and distributes ready-made casual wear made of pure and mixed cotton, polyester, and viscose fabrics in different types, as well as other knitting products.