TREET Corporation to sell stake in TBL

In a notification sent to the PSX on 05/03/2024. Treet Corporation Limited (TREET) is ready to sell some of its stake in its subsidiary Treet Battery Limited (TBL).

The company’s board announced that it plans to sell an 11.334% stake in TBL by way of the sale of shares in the open market. A reminder here that Treet Battery was recently listed on the PSX at the price of Rs. 10 per share. Its share price rose as high as Rs. 63.92 since listing. This extraordinary rise in share price was also questioned by the PSX and TBL responded by denying any knowledge as to why the share price rose that high.

How will the stake in TBL be sold?

The 11.334% stake in TBL will either be sold at the market price on the day of the sale, or through a Negotiated Deals Market(NDM) transaction at a price deemed suitable by the management.

📢 Announcement: We're Moving to Discord – Join Us There! 

Hi everyone! 👋

To improve your experience and offer additional features, we’re moving our community from WhatsApp to Discord!

Here’s what you’ll get on Discord:

✅ Research Reports Channel – Access a regularly updated compilation of valuable research reports
✅ PSX24/7 Bot – Ask anything about the PSX and get instant insights powered by KSEStocks historical data
✅ Organized Channels – Separate spaces for discussions, news, reports, and more
✅ Better Notifications – Control what you see and when
✅ Smoother Interaction – Easier to follow and participate in conversations
✅ Organized trading ideas - trading ideas that you can discuss and keep track of

Join now 👉 https://discord.gg/kST9hWjS

TREET shares were last trading at Rs. 18.24 at market close while TBL shares closed at Rs. 44.96 per share.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →