SECP approves TPL Properties' REIT Fund I offer

MG News | March 25, 2024 at 09:05 AM GMT+05:00

0:00

March 25, 2024 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has allowed TPL Properties Limited (PSX: TPLP) to issue the Offer for Sale Document of TPL REIT Fund I (Fund) to sell the 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 company's filing on PSX revealed today.

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.

TPL REIT Fund I is owned 38.6% by TPL Properties Limited and is managed by TPL REIT Management Company Limited, a wholly owned subsidiary of TPL Properties Limited.

"We shall keep our shareholders updated by making further announcements as and when the matter progresses," the notice reads.

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