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EGX to delist GTH’s stock on Wednesday

EGX to delist GTH’s stock on Wednesday
GTH’s EGM approved the voluntary delisting of the company’s shares
Global Telecom
GTHE
28.92% 2.97 0.83

Cairo – Mubasher: The Egyptian Exchange (EGX) announced that shares of Global Telecom Holding (GTH) will be delisted from the open market as of the beginning of trading session on 28 August.

The EGX’s listing committee approved GTH’s voluntary delisting request after the company purchased shares of all shareholders and those affected by the delisting at EGP 5.08 per share, according to a statement on Tuesday.

It is noteworthy that GTH’s extraordinary general meeting (EGM) held on Monday approved the voluntary delisting of the company’s shares from the EGX.

Earlier, 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.

Egypt’s Financial Regulatory Authority (FRA) approved the MTO submitted by VEON Holdings B.V. for the purchase of up to 1.997 billion shares in GTH, representing around 42.31% of GTH’s shares, at an adjusted price of EGP 5.08 per share.