Cairo – Mubasher: Global Telecom Holding on Thursday announced that it has appointed Naeem Financial Investments Company, a subsidiary of Naeem Holding, to be its financial advisor.   

Naeem Investments will evaluate the company’s share fair value in a step to increase its capital, according to a filing to the Egyptian Exchange (EGX).

Global Telecom’s capital currently amounts to EGP 2.7 billion divided on 4.7 billion shares.

Earlier on Thursday, the Egypt-listed telecom holding firm reported turning to losses in the first nine months of 2018, losing $345.1 million against profits of $56.8 million in the same period of the prior year.