TPL Trakker set to raise Rs 1.4 billion through IPO

MG News | February 06, 2020 at 10:59 AM GMT+05:00

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February 6, 2020 (MLN): TPL Trakker Limited, the pioneer in the GPS tracker industry in Pakistan has applied for Listing at Pakistan Stock Exchange (PSX), aiming to raise around Rs 1.4 billion through an initial public offering (IPO) in order to expand its operations.

According to the draft prospectus issued by the company to PSX, the company planned to issue 83,400,000 ordinary shares (representing 40.91% of the post-IPO paid-up capital of TPL Trakker Limited), having the face value of PKR 10 each to the general public with a Green Shoe Option of up to an additional 32,319,500 Ordinary Shares at an Issue Price of PKR12.00/-per share (including premium of PKR 2.00/-per share).

The entire issue will be made through the IPO at the fixed price in accordance with the Public Offering Regulations 2017.

In this regard, the Exchange has placed the Draft Prospects of the company on its website under the caption "Public Comments on Draft Prospectus of TPL Trakker Limited" for seeking public comments, latest by February 14, 2020.

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