PTCL injects capital into Ubank

MG News | January 29, 2025 at 09:37 AM GMT+05:00

0:00

January 29, 2025 (MLN): Pakistan Telecommunication Company Limited (PSX: PTC) has been making equity injections into U Microfinance Bank Limited (Ubank) in phases as part of the approved Ubank transformation strategy.

Ubank has published the total equity investment made during the financial years 2024 and 2025.

Ubank is a wholly owned subsidiary of PTCL.

The CEO clarified that the Government of Pakistan has not yet announced the terms and conditions for the 5G spectrum auction, in response to news about participating in the auction, the notification issued to the local bourse.

He stated that the Company's goal is to be the most innovative in the market and stressed that PTCL will adopt new technologies only if a strong business case justifies it.

PTCL regularly evaluates available options and develops its strategy accordingly.

The CEO explained that considering the 5G spectrum option depends on the business case and, therefore, does not represent a formal decision by the Company.

It was a regular media interaction where no information was disclosed that could affect the company's share price.

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