TPL Insurance to acquire major player in Pakistani market through amalgamation

MG News | April 26, 2023 at 02:24 PM GMT+05:00

0:00

April 26, 2023 (MLN): The Board of Directors (BoD) of TPL Insurance Limited (TPLI), a subsidiary of TPL Corp Limited on Wednesday approved the acquisition of operations of a significant insurance player in the Pakistani market by means of a scheme of amalgamation to be sanctioned through the High Court, the company's filing on PSX showed today.

Upon sanctioning of the scheme of the arrangement, the net assets of the Target Company shall stand merged into the TPLI, it added.

It is expected that the scheme of arrangement shall be sanctioned and the transaction consummated by December 31, 2023.

The company shall keep the shareholders apprised of all further developments in the said transaction, the notice read.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	154,292.26 213.82M	2.85% 4276.09
ALLSHR	92,658.58 393.53M	2.77% 2494.23
KSE30	46,904.87 134.91M	3.12% 1418.41
KMI30	221,684.42 82.94M	3.18% 6829.77
KMIALLSHR	60,187.46 166.61M	3.32% 1934.26
BKTi	42,971.02 70.64M	2.76% 1155.99
OGTi	32,492.05 13.03M	5.29% 1631.20

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	71,560.00	71,755.00 70,980.00	445.00 0.63%
BRENT CRUDE	111.52	112.86 109.78	4.14 3.86%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-11.50 -10.37%
ROTTERDAM COAL MONTHLY	121.50	121.50 120.85	-0.15 -0.12%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	96.10	99.17 95.75	0.64 0.67%
SUGAR #11 WORLD	14.82	14.84 14.35	0.37 2.56%