(Bloomberg) --The company plans sell a stake in its unit, Supernet, on the stock exchange, Telecard comments in a statement.
Expects creditors to restructure its outstanding 700 million rupees TFC loans soon paving way for regulatory approvals for the IPO.
“The company has the ability to pay the outstanding amount out of its own consolidated cash flows and expects to do so under the restructured terms,” it says
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Telecard had raised 2.4 billion rupees through issuing term finance certificates of which has paid back 1.7 billion rupees; 700 million rupees remain outstanding
Telecard shares rise as much as 7.1% of KSE-100 index