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Mar 29, 2013

24 Comments
  • Wateen Shareholder 2

    About time. Company is finished. Not published one earnings report as required by SECP since 2011. I bought share at Rs 11 after my friends at Wateen convinced me it was good share. It have taken loss of Rs 5.5. Same firm, Arif Habib, that pumped up this share is now buying it at 55% discount to par value.
    If this is not robbery and making fool of investors what is it??

    • jawadahsen

      Its PTCL’s price monopoly that does not allow for other ISPs to sustain in long term

    • Mark Spencer

      You must be stupid to buy it at Rs. 11 when it started at Rs.10 and went down straight away!

      • Check ur Facts

        You idiot it started at Rs 11. Why don’t you check your facts. Arif Habib was selling stocks at Rs 11 after getting it ‘oversubscribed’.

        • Shahid Saleem

          References please? I know it was oversubscribed but I do not remember Rs 11 anywhere.

        • Nabeel

          i didnt find any reference which says it was sold at 11 rs after getting oversubscribed. check your facts!!

    • rashid

      pl see the above mentioned commnts

    • raahid

      Its a financial frade individuals are still the holding wateen shares but company is now de listed

  • jawadahsen

    First they will buy back shares citing long term commitments to pakistan and then when they have full control, they can close it down ;)

  • wateen shareholder

    TAHT’S A GOOD NEWS :-)

  • farooq

    Good news for Pakistan telecom industry

  • furqan ali

    Does that mean Wateen is Back or!!!!!!!!!!!!!!!!!

    • Omair Ahmed

      Yes they are back with the BANG… after buying shares in cheap prices they are going to upgrade their service to 4G LTE..

      • Shahid Saleem

        After buying back their shares do you think they’ll have the money to upgrade???

  • Imran Siddiqi

    Shocking to heard as their share price is recently increased from 1.80 to 3.90 again loss of poor investors….

  • Madan Lal

    KSE has the power to set the buy back rate and it should set it to minimum Rs 10 so that the buyers in the IPO can atleast get saved (they will lose out on opportunity cost and inflation) but alteast something can be salvaged.

    Warid International LLC should NOT be allowed to buy at 4.5 because they were the beneficiaries of the IPO and sold their shares at Rs 10 to these buyers only to be allowed to buy them back at 55% discount. This is totally unfair.

    We need some KSE Directors to step in and save the day and do the buy back at Rs 10 (minimum price and par value).

    Funny thing is Arif Habib did the IPO and now they are also doing the buy back. Do they have no shame???

  • rashid

    who asked u to purchase shares ppp ki govt the mulk doob raha tha issi liey wateen nay logon say paisa liya ab imrram aa gaya musharaf aa gaya ab to profit making ka waqt ha shares wapis to lainay he hain wateen nay. Wateen pakistan ma unqareeb video call b mutarif karvaen ga cha gaya wateen ab 4.20 pay share hareed k 4.50 pay bach do bacho

  • Bonga

    I suppose Naeem Zamindar and Zohair Khaliq are quickly finding out that they have no business in running broadband in Pakistan. Wateen posted a loss of Rs. 1.6 billion last year. Any competent board would have fired the incompetent CEO, or if he had any shame, he would have resigned on his own.

  • patriot

    If Wateen suffered a loss of 1.6B last year meaning Rs. 133 million/month, then CEO should have been fired right away. Is board of wateen sleeping or what? With such a loss, even a share price of 4.5 is overvalued.

  • Umer Draz

    That is excellent news. Thats why i love wateen

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  • Shawais

    fitty moonh :@ … so i will bear loss of 5.5 rupees per share wtf.

    by the way what is the procedure to get money back.

  • Shoaib

    Badly managed

  • HARIS

    KSE has the power to set the buy back rate and it should set it to
    minimum Rs 10 so that the buyers in the IPO can atleast get saved (they
    will lose out on opportunity cost and inflation) but alteast something
    can be salvaged.