Cairo – Mubasher: The Egyptian Exchange (EGX) announced that Global Telecom Holding (GTH) has purchased shares from the shareholders affected by the voluntary delisting for EGP 167.4 million.
The deal involved the purchase of 32.9 million shares at EGP 5.08 apiece, the EGX said in a statement on Thursday.
It is worth to mention that GTH’s extraordinary general meeting (EGM) approved the voluntary delisting of the company’s shares from the EGX.
Previously, the EGX announced the closure of the mandatory tender offer (MTO) for shares of GTH submitted by VEON Holdings B.V. at a total value of EGP 9.72 billion after 1.9 billion shares were tendered.
During the first half of 2019, GTH’s profit surged to $26 million from nearly $100,000 in the prior-year period.
