PTCL-Telenor deal ignites investor confidence

News Image

MG News | April 16, 2024 at 01:36 PM GMT+05:00

0:00

April 16, 2024 (MLN): Pakistan Telecommunication Company Limited (PSX: PTC), in response to the unusual movement in its stock price, has stated that investors have reacted favorably to the disclosed information regarding the Share Purchase Agreement with Telenor Pakistan (Private) Limited (TPL).

According to the PSX database, the average market price of PTCL shares from March 01 to March 13, 2024, stood at Rs12.31 per share, while during the period from March 14 to March 31, 2024, it increased to Rs15.74 per share.

The company had disseminated the price sensitive information on December 14, 2023. Wherein, it was notified that the company has entered into a SPA with the shareholders of TPL for the acquisition of 100% shares of TPL, based on an Enterprise Value of Rs108 billion on a cash free, debt free basis.

"We believe that the investors reacted favorably to the disclosed information, as evidenced by the PSX record," the notice reads.

Following the dissemination of the price-sensitive details, the market price of PTCL shares rose to Rs13.54 per share by the close of March 14, 2024, compared to the previous day's closing price of Rs12.59 per share on March 13, 2024.

Subsequently, the value of PTCL shares continued to rise, reaching Rs18.27 per share by the close of March 29, 2024, the final working day of the month.

It is evident that the upward trend in PTCL's share price was driven by the company's announcement on March 14, 2024, regarding its acquisition of TPL, it said.

Moreover, "we feel that the PSX market is presently showing upward trajectory due to positive economic fronts," the noticed added.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 156,180.94
423.57M
0.51%
796.43
ALLSHR 95,690.82
1,354.89M
0.59%
557.25
KSE30 47,714.39
199.12M
0.52%
247.40
KMI30 229,722.09
134.66M
0.91%
2076.87
KMIALLSHR 64,420.07
581.33M
0.83%
532.01
BKTi 41,969.52
122.61M
0.50%
207.74
OGTi 31,991.76
10.82M
1.18%
372.62
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 115,730.00 116,415.00
115,215.00
155.00
0.13%
BRENT CRUDE 68.02 68.18
67.01
0.58
0.86%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-0.40
-0.47%
ROTTERDAM COAL MONTHLY 93.40 93.50
93.15
0.55
0.59%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.02 64.23
62.89
0.72
1.14%
SUGAR #11 WORLD 15.92 16.10
15.84
-0.08
-0.50%

Chart of the Day


Latest News
September 16, 2025 at 05:24 PM GMT+05:00

CDC onboards KTrade Securities to RAAST Aggregator Platform


September 16, 2025 at 04:49 PM GMT+05:00

Auto financing in Pakistan rises to Rs294bn in August


September 16, 2025 at 04:47 PM GMT+05:00

Pakistan, Iran vow to elevate regional economy


September 16, 2025 at 04:21 PM GMT+05:00

PSX Closing Bell: Looking Green



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg