SECP approves TPL REIT Fund

In a notification sent to PSX on 25/03/2024. TPLP (TLP properties) said that the company announced progress on the launch of TPL REIT fund.

The notice released to the public said:

We are pleased to announce that the Securities and Exchange Commission of Pakistan vide its approval letter dated March 22, 2024, has accorded its approval to issue, circulate and publish to the general public, the Offer for Sale Document of TPL REIT Fund I (Fund), a fund owned 38.6% by TPL Properties Limited and being managed by TPL REIT Management Company Limited, a wholly owned subsidiary of TPL Properties Limited for Offer for Sale of 45,324,500 Units with a Base Offer of 22,937,500 Units and Green Shoe Option of up to 22,387,000 Units by the Company and other Accredited Investors. The Fund is expected to get listed early April 2024 subject to approval of dates by the Pakistan Stock Exchange. The same will be communicated to the investors in due course.

TPLP shares were last trading at 10.90 at market closed today.