London Stock Exchange welcomes Orascom Telecom Media and Technology (OTMT) to the Main Market
Tuesday 26th June 2012
Today at 8.00, the management of Orascom Telecom Media and Technology Holding S.A.E announce the commencement of dealings of its Ordinary Shares on the Main Market of the London Stock Exchange.
Orascom Telecom Media and Technology, a holding company for a group of companies and investments in companies active in the GSM, media and technology and cable spheres, has pioneered in its field with operations mainly in Egypt, the Democratic People’s Republic of Korea („DPRK“), Pakistan, Lebanon and other North African and Middle-Eastern countries. The GSM activities include mobile telecommunications operations in Egypt, North Korea and Lebanon. The Media and Technology division consists of OT Ventures/Intouch Communications Service and the OT Ventures Internet portals and other ventures in Egypt, including LINK Development, ARPU+ and LINKonLINE. The Cable business focuses on the management of cable networks. OTMT is traded on the Egyptian Exchange under the symbol (OTMT.CA, OTMT EY).
With a market capitalization of over EGP 7 Billion and the official listing of its GDRs on the London Stock Exchange main market, OTMT continues to become one of the region’s leaders in the telecom, media and technology sectors.
Khaled Bichara, Chief Executive Officer of OTMT commented: “Today marks the final milestone of the demerger process as we have successfully completed our admission to the Main Market, therewith delivering on our promises to our shareholders. Moreover, in our quest to continuously deliver shareholder value, we are looking forward to Shareholders Approval of a significant dividend distribution following the completion of the Sale and continued Partnership Agreement with France Telecom in relation to our Egyptian GSM operation, Mobinil.”