According to a notice sent minutes ago to Karachi Stock exchange — it is learned that Wateen, part of Abu Dhabi Group, is planning to de-list from stock exchanges. Wateen has said that the price of Rs 4. It is still unclear if other minor-to-major share-holders will approve this proposed buy-back share price or not. He said that all these steps are being taken as the Group reaffirms its overall commitment to Pakistan in general, and the telecom sector particularly.
According to the notice — Arif Habib Limited was appointed by Warid Telecom as the purchase agent, who will oversee and manage the buy-back process. Buy-Back by Warid Telecom International LLC, U. Lahore, 29 th March The Company has conveyed its intention to the stock exchanges in Karachi, Lahore and Islamabad, as well the Security and Exchange Commission of Pakistan in accordance with the Voluntary De-Listing provisions under Regulation A i , and the Code of Corporate Governance set out in their respective Listing Regulations.
For the proposed purchase of Wateen, WTI has appointed Arif Habib Limited as the Purchase Agent, who will oversee and manage the buy-back process on behalf of WTI.
Not published one earnings report as required by SECP since I bought share at Rs 11 after my friends at Wateen convinced me it was good share. It have taken loss of Rs 5. If this is not robbery and making fool of investors what is it?? You idiot it started at Rs Its a financial frade individuals are still the holding wateen shares but company is now de listed.
First they will buy back shares citing long term commitments to pakistan and then when they have full control, they can close it down ;.
Yes they are back with the BANG… after buying shares in cheap prices they are going to upgrade their service to 4G LTE..
Shocking to heard as their share price is recently increased from 1. KSE has the power to set the buy back rate and it should set it to minimum Rs 10 so that the buyers in the IPO can atleast get saved they will lose out on opportunity cost and inflation but alteast something can be salvaged. Warid International LLC should NOT be allowed to buy at 4. This is totally unfair. We need some KSE Directors to step in and save the day and do the buy back at Rs 10 minimum price and par value.
Funny thing is Arif Habib did the IPO and now they are also doing the buy back. Do they have no shame??? Wateen pakistan ma unqareeb video call b mutarif karvaen ga cha gaya wateen ab 4.
I suppose Naeem Zamindar and Zohair Khaliq are quickly finding out that they have no business in running broadband in Pakistan. Wateen posted a loss of Rs. Any competent board would have fired the incompetent CEO, or if he had any shame, he would have resigned on his own.
If Wateen suffered a loss of 1. Is board of wateen sleeping or what? With such a loss, even a share price of 4. The letter from WTI not to be confused with Warid Telecom Pakistan — sent by Wateen to the Karachi Stock Exchange on Friday morning — is tantamount to admitting that Wateen is bankrupt.
In this case, however, the sponsor seems to be going out of its way to ensure that despite its severe financial difficulties, Wateen continues to function and even the common shareholders — who typically see the value of their investment completely wiped out — at least get some payout.
This Is a free service. SECP Makes Changes to Margin Financing System After Receiving Feedback. Skip to primary navigation Skip to content Skip to primary sidebar Home Packages Telecom Startups Gadgets Contact. Wateen to Get De-Listed From Stock Exchange. Aamir Attaa 4 years ago. You must be stupid to buy it at Rs. I know it was oversubscribed but I do not remember Rs 11 anywhere. Good news for Pakistan telecom industry.
Does that mean Wateen is Back or!!!!!!!!!!!!!!!!! That is excellent news. Thats why i love wateen. American Photographer Captures the Spirit of Pakistan Army in Siachen. The Best Video Game Trailers From E3 Nokia 3 is Now Officially Available in Pakistan. Russia To Allow Visa-Free Travel for Everyone For Football World Cup.