Karachi: The investors of Pakistan Stock Exchange (PSX) have started speculation regarding Media Times Limited (MDTL) and the WorldCall Telecom Limited (WTL) for the last two days, although there were no major developments shared with the investors.
WorldCall and Media Times Limited were among the top traded stocks since Friday. During the last three sessions, WTL prices increased from Rs 1.03 to a high of Rs 1.77 per share. Market sources said that Media Times is now going through a restructuring process in which new management has been inducted on a profit-sharing basis. However, the company has not shared any information with the investors through Pakistan Stock Exchange. Media Times owns the B-Plus news channel and Daily Times newspaper.
The price rise of WorldCall Telecommunication Limited (WTL) has also received the market’s attention as trading volume and prices have seen significant change.
WorldCall Telecommunication Limited (WTL) has recently started negotiating with the ARY Group to sell out 51 percent shares. But this deal was challenged by the Pakistan Broadcasting Association in the Sindh High Court.
“The deal is not finalised yet and as it is finalised, we will inform the PSX,” Mohammad Zaki Munawar, company secretary of the WTL, told The Correspondent. He said trading in the PSX board is a routine matter.
WTL has also started a new service, Fiber to The Home (FTHH), in Pakistan. Mohammad Zaki Munawar said that the company has started FTTH services in two areas of Lahore, while it will also be started in Karachi soon.
About six months ago, the WorldCall Telecom Ltd informed its investors through Pakistan Stock Exchange (PSX) that it has received a notice of public announcement of intention from AKD Securities Limited, who are acting as managers to offer on behalf of ARY Communications Limited and ARY Digital FZ LLC.