WorldCall’s Parent Company to Complete NASDAQ Listing by July

Worldcall Services (Private) Limited (WSL), the parent company of WorldCall Telecom Limited (PSX: WTL), is expected to be listed on the renowned global stock exchange, the National Association of Securities Dealers Automated Quotations Stock Market (NASDAQ), in July, the company informed the Pakistan Stock Exchange on Monday.

“In continuation of earlier announcement dated October 4, 2022, we have been informed by Worldcall Services (Pvt) Limited (WSL) that its market listing on NASDAQ through a US entity is progressing well and expected to complete by July 2023,” the filing stated.

“PSX would be kept informed of any further developments as and when received from WSL,” it added.

WSL in October 2022 planned to raise funds through its listing on Nasdaq. The parent company has been busy making arrangements to finance the next phase of the Fiber To The Home (FTTH) program through open access to quality capital markets outside Pakistan for its subsidiary WTL.

WTL previously got engaged in negotiations with various media and telecom giants for its sell-off offers from players including PTCL, Dunya, and ARY, but efforts were inconclusive.

Published by
Ahsan Gardezi