TPL REIT gets SECP’s approval to raise Rs80bn

MG News | December 01, 2021 at 10:07 AM GMT+05:00

0:00

December 1, 2021 (MLN): TPL Properties Limited (TPLP) has announced that the Securities and Exchange Commission of Pakistan has accorded its approval for selling the company’s developmental assets to TPL REIT Management Company Limited (TPL RMC), with a target fund size of Rs80 billion to be raised from local and international investors, the company filing on PSX showed.

The regulatory authority gave the said approval for the registration of the proposed trust deed “TPL REIT Fund I” under the Sindh Trust Act, 2020, with an initial fund size of Rs18.35bn to be raised from local investors. To note, TPL RMC is a wholly-owned subsidiary of TPLP.

The company shall now get the trust deed “TPL REIT Fund I’ registered under the Sindh Trust Act, 2020 and subsequently get the REIT Scheme registered with the SECP, the notice said.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	157,953.47 555.47M	1.14% 1775.65
ALLSHR	96,741.22 1,957.60M	1.16% 1110.83
KSE30	48,198.94 249.79M	1.09% 520.47
KMI30	232,694.17 290.89M	1.31% 3011.94
KMIALLSHR	65,027.13 1,019.78M	1.03% 660.37
BKTi	42,489.56 84.10M	1.35% 566.75
OGTi	31,779.36 15.21M	0.14% 43.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,745.00	117,795.00 116,905.00	-25.00 -0.02%
BRENT CRUDE	67.45	67.54 67.40	0.01 0.01%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	94.00	94.50 94.00	0.45 0.48%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.23	63.32 63.19	-0.03 -0.05%
SUGAR #11 WORLD	16.13	16.27 15.89	-0.14 -0.86%