TPL announces the acquisition of FINCA Microfinance Bank

In a notification sent to PSX on 29/04/2024. TPL Corp Limited (TPL) has announced that the company set to acquire majority shareholding in FINCA Microfinance Bank.

In continuation to our earlier announcement dated December 19, 2023, we are pleased to announce that the Board of Directors of the Company have granted its approval to submit a binding offer to acquire majority shareholding in FINCA Microfinance Bank Limited (“Bank”) along with Abhi
(Private) Limited (“Transaction”).

The Transaction will remain subject to obtaining all necessary corporate and regulatory approvals required under applicable laws including but not limited to the approval of the State Bank of Pakistan, Competition Commission of Pakistan, and Securities and Exchange Commission of Pakistan and subsequently entering into definitive documentation.

The shares of TPL were last trading at Rs. 104.50 today.