Wateen to apply for listing at ISE

ISLAMABAD: Wateen Telecom Limited (WTL) will formally apply to the Securities and Exchange Commission of Pakistan (SECP) for its listing at the Islamabad Stock Exchange (ISE).

This was discussed by the top management of WTL during a meeting with members of ISE on Tuesday.

The WTL management was there to make a formal presentation in the wake of the company’s maiden IPO through which 200 million shares would be offered to the general public and strategic investors.

About 110 million shares of Wateen are being offered at a face value of Rs10 while 90 million would be available under the green shoe option. Fair value of the share has been calculated at Rs22.30 while book value at Rs52 per share.

A separate 110 million shares of the company have already been underwritten by banks, financial institutions and strategic investors.