| Vision | ||||||||||
| To introduce Wateen Telecom in the European and North American markets and provide the leading telecommunications international voice services through a world-class cutting-edge network to deliver a broad range of reliable, affordable and quality customer-centric services. | ||||||||||
| Mission | ||||||||||
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| Corporate Values | ||||||||||
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Present Issue consist of 110,000,000 ordinary shares of PKR 10 each (20.85% of the enhanced paid up capital of PKR 5,274,746,200) with a Greenshoe option of up to additional 90,000,000 ordinary shares (14.58% of the enhanced paid up capital of PKR 6,174,746,200) in case of over-subscription at an Issue price of PKR 10/- per share to general public.
UNDERWRITTERS:
National Bank of Pakistan
Atlas Bank Limited
Arif Habib Limited
Habib Bank Limited
MCB Bank Limited
Bank of Khyber
Askari Bank Limited
Allied Bank Limited
KASB Bank Limited
Pak Oman Investment Co. Limited
Arif Habib Bank Limited
Faysal Bank Limited
Pearl Securities Limited
Wincom (Pvt.) Limited
Atlas Bank Limited
Arif Habib Limited
Habib Bank Limited
MCB Bank Limited
Bank of Khyber
Askari Bank Limited
Allied Bank Limited
KASB Bank Limited
Pak Oman Investment Co. Limited
Arif Habib Bank Limited
Faysal Bank Limited
Pearl Securities Limited
Wincom (Pvt.) Limited
BANKERS TO THE ISSUE:
Arif Habib Bank Limited
Bank AL Habib Limited
Bank Alfalah Limited
Dawood Islamic Bank Limited
Deutsche Bank Limited
Faysal Bank Limited
Habib Bank Limited
Habib Metropolitan Bank Limited
J.S. Bank Limited
MCB Bank Limited
The Bank of Punjab
United Bank Limited
Date of public subscription
The subscription list will open on April 20th, 2010 at the commencement of banking hours and will close on
April 21st, 2010 at the close of banking hours.
The subscription list will open on April 20th, 2010 at the commencement of banking hours and will close on
April 21st, 2010 at the close of banking hours.
THE PUBLIC OFFER
Wateen has proposed to issue additional 110,000,000 shares to institutional inves-tors and general public at a price of PKR 10/- per share amounting to PKR 1,100 million with a Greenshoe option of 90,000,000 ordinary shares. The paid up capital of the Company will increase from PKR 4.174 billion to PKR 5.275 billion. The principal purpose of the proposed Initial Public Offering is to (i) repay PKR 1.469 billion to financial institutions as against the Company’s financial obligations arises out of payment of LCs, (ii) acquire 49 percent shares (397,027 shares of face value of PKR 100 per share) of Wateen Solutions (Pvt.) Limited (formerly National Engi- neers (Pvt.) Limited) amounting to PKR 490 million to make it a wholly owned subsid-iary of Wateen Telecom Limited, (iii) broaden the investor base through an increase in the number of shareholders, and (iii) provide the public investor an opportunity to participate in the future of the Company with sound prospects.
WATEEN TELECOM LIMITED OVERVIEW
Wateen Telecom Limited was incorporated in Pakistan under the Companies Ordi-nance 1984, on 4 March 2005. Wateen’s successful four years of operations in the telecom industry of Pakistan speak for itself. Some of the business’s salient features are presented below:
Wateen Telecom Limited was incorporated in Pakistan under the Companies Ordi-nance 1984, on 4 March 2005. Wateen’s successful four years of operations in the telecom industry of Pakistan speak for itself. Some of the business’s salient features are presented below:
1) Wateen is the largest alternative LDI operator in Pakistan
2) Largest commercial and first nationwide 3.5 GHz WiMAX network rollout in the world
covering 22 cities and more than 1,100 sites (900 live).
covering 22 cities and more than 1,100 sites (900 live).
3)Largest operator of Satellite services in the country (c. 500+ MHz in use).
4)Wateen has one of the largest Optic Fiber network spanning over more than 10,000 km (including Government of Pakistan USF projects) across all the four provinces of Pakistan including metro connectivity in 22 cities. This network provides the backbone for Wateen’s National Transmission Services.
5)Wateen with its Managed Capacity services (OFC & VSAT) serves almost all the major GSM and telecommunication companies in Pakistan as well 86% of the Banking sector.
6)Wateen’s FTTx (for provision of Cable TV services) and Infotainment products are also being nurtured to ensure maximization of long term shareholder value.
7)Sales performance has also been quite encouraging and consistent with over 20,000 monthly additions to the broadband internet and telephony subscriber base.
8)Sales growth rate has been far steeper compared to the industry average, evi-dent from the fact that Wateen enjoys over 60 percent share of the wireless broadband market.
9)Wateen recently closed the largest syndicate financing transaction for the year 2009 raising PKR 4.7 billion from leading banks in the industry even in these challenging times showing the confidence of the market in Wateen’s business model and operations.
10)Wateen also successfully closed one of the largest Islamic Financing deal in the same period.
11)ARCH-e’-decon a leading evaluator in the telecom industry estimated current value of Wateen’s key strategic assets at PKR 17,289 million translating into intrinsic value of PKR 52.5 per share. Such a high book value share will now be available through the IPO at par value of PKR 10.0 per share - a huge discount for the people of Pakistan to benefit from.
Application Forms and Prospectus
The applications forms and prospectus can be downloaded through the following links:
The applications forms and prospectus can be downloaded through the following links:
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