According to a notice issued by KSE, shares of Wateen were listed in the market starting from 8th of April.
This is a provisional listing. The notice stated that the shares may get to the ready market starting from 27th May 2010.
The opening rate was Rs. 10.
Wateen has also offered its shares for the public subscription on 20 and 21 of April. The price per share was the same.
In one of my previous posts, I mentioned that I was notified about this offer quite a while ago but I did not invest any money in this opportunity: why?
Well because I have been monitoring KSE for a while now and I thought that Wateen share price was a bit high. Please note that I am no expert and it is only my personal opinion based on my personal experience at KSE.
Anyway, the first thing that came in my mind is the price of the other company whose owner is the same as of Wateen. Yes I am talking about Bank Alfalah. What is the price of bank Alfalah share?
Nowadays, the price of one share of Bank Alfalah is around Rs. 11
We all know that this is one of the top Banks in Pakistan. If this bank’s share value is hovering around Rs. 11 these days then what future can we expect for the internet provider share value? [Which is a young company and possibly is not as financially strong as Alfalah is]
Anyway, let’s wait and see where Wateen share value will go: 10+ or below 10 ? : )