Categories: Material Information

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.

Aamir Hayat

View Comments

Recent Posts

Shifa International (SHFA) has returned 150% in two months, will the rally continue?

Shifa International (SHFA) has already rallied 150%, but there is still more upside to the…

3 weeks ago

HUBC’s base plant expiry: What is next for the power giant?

The closure of the Hub Power Company Limited (HUBC) plant marks a significant shift in…

3 months ago

What makes AGTL a high-return investment?

For investors seeking high returns, Al-Ghazi Tractors Limited (AGTL) presents a compelling opportunity.

3 months ago

Why is AGTL poised for growth despite recent challenges?

Al-Ghazi Tractors Limited (AGTL) has demonstrated remarkable resilience in the face of various challenges, and…

3 months ago

What challenges and opportunities does AGTL face in the future?

Al-Ghazi Tractors Limited (AGTL) has established itself as a significant player in the agricultural machinery…

3 months ago

How well did Fatima Fertiliser perform in 2QCY24?

Fatima's 2QCY24 financial performance reflects a challenging quarter, marked by a significant decline in profitability…

3 months ago