External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>In a notice to exchange, Pakistan Telecommunication Company - PTC (Market Cap of Rs49bn &amp; US$173mn) informed that its has entered into a Share Purchase Agreement (SPA) with the shareholders of Telenor Pakistan for the acquisition of 100% shares at an Enterprise Value of Rs108bn (US$380mn) on a cash &amp; debt free basis.</li><li>The deal is subject to regulatory approvals &amp; other customary conditions and is expected to be complete in 2024.</li><li>PTC also informed that the transaction will be financed by external debt. We believe due to shortage of FX reserves in Pakistan, the debt raised by PTC will directly transferred to the current shareholders of Telenor Pakistan.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

In a notice to exchange, Pakistan Telecommunication Company - PTC (Market Cap of Rs49bn &amp; US$173mn) informed that its has entered into a Share Purchase Agreement (SPA) with the shareholders of Telenor Pakistan for the acquisition of 100% shares at an Enterprise Value of Rs108bn (US$380mn) on a cash &amp; debt free basis.The deal is subject to regulatory approvals &amp; other customary conditions and is expected to be complete in 2024.PTC also informed that the transaction will be financed by external debt. We believe due to shortage of FX reserves in Pakistan, the debt raised by PTC will directly transferred to the current shareholders of Telenor Pakistan.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Topline Flash Note: Pakistan Telecommunication: One of the Biggest Acquisition Deals in Pakistan

Norway

Telenor ASA is an international provider of tele, data and media communication services, and has mobile operations in 13 markets across the Nordic region, Central and Eastern Europe and Asia. The Group also offers fixed telephony, broadband and TV services in the Nordic region.

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Telenor ASA (TEL NO)

Topline Flash Note: Pakistan Telecommunication: One of the Biggest Acquisition Deals in Pakistan

In a notice to exchange, Pakistan Telecommunication Company - PTC (Market Cap of Rs49bn & US$173mn) informed that its has entered into a Share...

Topline Securities

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52-week Range

Market Cap (USDm)

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