Finnfund to buy 15% stake in TPL Insurance

MG News | April 15, 2022 at 10:46 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

April 15, 2022 (MLN): TPL Insurance (TPLI), a subsidiary of TPL Corp Limited, has entered into a share subscription agreement and a shareholder’s agreement with the Finnish Fund for Industrial Cooperation Limited (Finnfund). Accordingly, this international development financer will hold 20.64 million shares representing 14.97% of the total post-issued share capital in TPLI, on a fully diluted basis, subject to obtaining all regulatory approvals.

According to the company’s filing on PSX said on Friday, this foreign collaboration will enable TPLI to introduce innovative and tech-driven products, such as yield-based crop and livestock insurance, as well as women-specific insurance programs.

Thereby, increasing penetration of insurance in Pakistan in diverse segments. This is second such investment by an international development financier following DEG – Deutsche Investitions – und Entwicklungsgesellschaft mbH since last year.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,402.08 123.44M	0.15% 248.92
ALLSHR	103,762.74 640.45M	0.28% 285.71
KSE30	50,998.57 52.62M	0.19% 96.59
KMI30	244,665.18 69.20M	0.37% 899.52
KMIALLSHR	67,290.94 377.69M	0.30% 203.90
BKTi	47,479.22 9.62M	-0.28% -135.50
OGTi	35,149.09 4.24M	0.85% 295.17

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	85,975.00	86,950.00 85,195.00	-615.00 -0.71%
BRENT CRUDE	98.67	102.30 97.43	-1.67 -1.66%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	6.10 4.92%
ROTTERDAM COAL MONTHLY	137.10	137.10 137.10	-0.20 -0.15%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	90.43	93.84 89.16	-1.94 -2.10%
SUGAR #11 WORLD	18.45	18.50 18.02	0.06 0.33%