Worldcall Telecom Limited (PSX: WTL) has been informed by Worldcall Services (Private) Limited (WSL) that GlobalTech Corporation (GTC), a US Company, has commenced trading under the symbol GLTK, the tech firm informed the main bourse on Wednesday.
With the commencement of trading of GTC, all terms and conditions mentioned in the plan and agreement of reorganization have been successfully completed. The Majority Shareholders of WTL i.e. WSL and Ferret Consulting F.Z.C (Ferret) have now consolidated their holding into GTC, which is now the ultimate holding company of WTL, the stock filing stated.
WSL and Ferret continue to remain the shareholders of WTL without any change in their respective shareholdings and the ultimate beneficial ownership of WTL also remains the same.
The filing said WTL will benefit from access to international capital markets. GTC expects to raise a minimum of $5 million to a maximum of $10 million. Funds made available to WTL would substantively accelerate technology transformation t
hrough Fiber to the Home (FTTH) roll-out and commercial launch of IT solutions for the domestic and international markets.
It bears mentioning that GTC was allocated the symbol ‘GLTK’ on the Nasdaq stock exchange in November 2023.
Source: Pro Pakistani