ARY Group appoints AKD Securities to acquire 100% shares of WorldCall Telecom
KARACHI: ARY Digital Group is going acquire 100 per cent shares of the WorldCall Telecom Limited and in this connection AKD Security has been appointed as lead manager.
The WorldCall Telecom Ltd informed its investors on Pakistan Stock Exchange (PSX) website that it has received a notice of public announcement of intention from AKD Securities Limited, who are acting as manager to offer on behalf of ARY Communications Limited and Army Digital FZ LLC.
The source in AKD Securities also confirmed this news saying that ARY Digital has appointed it as lead manager to offer it and it will commence due-diligence of the WorldCall soon.
According the sources in Pakistan Broadcasting Association (PBA), the ARY Digital had already acquired 51 per share of WorldCall Telcom in January 2020. Pakistan Stock Exchange has not placed that letter (Material Information) on its website for their investors nor did the SECP and PEMRA reply over it, the source further claimed.
The share price of WorldCall Telecom has jumped to Rs 1.46 today compared to Rs 0.79 on June 26.
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