TPL Corp, Abhi Ltd receive SBP’s approval to explore FINCA Microfinance Bank acquisition

By MG News | December 19, 2023 at 10:03 AM GMT+05:00

0:00

December 19, 2023 (MLN): The State Bank of Pakistan (SBP) has granted its approval to TPL Corp Limited (PSX: TPL) and Abhi (Private) Limited to initiate the due diligence process for FINCA Microfinance Bank Limited, TPL’s filing on local bourse revealed today.

This due diligence is a crucial step toward a potential acquisition by TPL and Abhi of a majority shareholding in the bank.

The Proposed Transaction will remain subject to the outcome of the due diligence, obtaining

requisite internal and regulatory approvals and entering into definitive documentation.

“TPL shall keep the PSX apprised of all further developments in the said transaction,” the notice concludes.

It is worth mentioning that the principal activity of the TPL is to make investments in groups and other companies.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
KMIALLSHR	55,193.97 350.11M	0.22% 119.82
BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,125.00	110,525.00 107,865.00	-2290.00 -2.07%
BRENT CRUDE	68.51	68.89 67.75	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.50	67.18 66.04	-0.50 -0.75%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%