Karachi May 8 2024: Worldcall Telecom Limited Parent Company, Worldcall Services (Pvt.) Ltd., while remaining true to its commitment for execution of WTL’s technological transformation continually, is aggressively pursuing multiple monetization alternatives i.e. exploration of capital markets beyond Pakistan and selected is NASDAQ for its listing.
“Worldcall Telecom Limited (WTL) has been informed by Worldcall Services (Pvt) Limited (WSL) that GlobalTech Corporation (GTC) a US Company, has commenced trading under the symbol “GLTK”, states WTL in its filling to Pakistan Stock Exchange.
Share price of WTL increase 22 paisas or 17.2% at Pakistan Stock Exchange while Global Tech Corporation price surge 29% on its first day of trading.
With the commencement of trading of GTC, all terms and conditions mentioned in plan and agreement of reorganization have been successfully completed. The Majority Shareholders of WTL i.e WSL and Ferret Consulting F.l.C (Ferret) have now consolidated their holding into GTC, which is now the ultimate holding company of WTL.
“It is clarified that WSL and Ferret continue to remain the shareholders of WTL without any change in their respective shareholdings and the ultimate beneficial ownership of WTL also remains same” the company added in its note.
With achievement of the above milestone, WTL shall benefit from access to international capital markets.
“GTC expects to raise a minimum of $5 million to a maximum of $10 million. Funds made available to WTL would substantively accelerate technology transformation through Fiber to the Home (FTTH) rollout and commercial launch of IT solution for domestic and international market” states the company.
Company FTTH conversion project –WorldCall being largest cable operator intends to penetrate in other digitally urban areas of Lahore i.e. DHA, Cantonment and in South subsequently. Further, as shown in past few years, company Parent Company, Worldcall Services (Pvt.) Ltd., while remaining true to its commitment for execution of WTL’s technological transformation continually, is aggressively pursuing multiple monetization alternatives i.e. exploration of capital markets beyond Pakistan and selected is NASDAQ for its listing.
The Company is at the advance stage to collaborate with an operator to expand its business across Pakistan and expect to add 200,000 broadband subscribers in low income areas under sharing economy vision. This will enhance Company’s revenue and contribute positively to the bottom line. These addition of subscribers will be energized on the existing network of the Company.
The Company is also launching a new and unique project called CADNZ. It is a 360 degree Customer Relationship module based application specifically developed for banking sector. All aspects of non-core banking would be covered by this application. This product has huge potential in United States (US) small and medium sized banks. In future the Company would plan to penetrate in Europe, UK and Middle East. This project will generate significant revenue.
