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Moon Capital raises stake in GTH to 5.1%

Moon Capital raises stake in GTH to 5.1%
Moon Capital raises stake in GTH to 5.1%
Global Telecom
GTHE
5.59% 1.89 0.10

Cairo – Mubasher: Global Telecom Holding (GTH) on Thursday said that Moon Capital Partners Master and Moon Capital Master Fund Limited hold around 240.9 million shares in it, accounting for 5.1% of the company’s total capital.

Moon Capital Partners Master has nearly 226.6 million shares in GTH, while Moon Capital Master Fund holds about 14.3 million shares, according to a statement to the Egyptian Exchange (EGX). 

The aforementioned figures have been effective as of 1 January, GTH indicated, noting that its announcement was subject to Article 29 on listing and delisting security regulations.

In December, HSBC Securities Egypt announced that Moon Capital Partners Master Fund Limited had raised its stake in GTH to 4.8% from 4.07%.

The transaction was implemented at a value of EGP 109.94 million or at an average price of EGP 3.2 per share.

GTH previously reported turning to losses with $345.1 million in the first nine months of 2018 against a profit of $56.8 million in the same period of the prior year.

Revenues narrowed to $2.12 billion by the end of September, from $2.29 billion in the same period the year before.