TPLI: Shareholders okay Rs200mn equity investment in TPL Life Insurance

MG News | July 06, 2022 at 02:24 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

July 6, 2022 (MLN): The shareholders of TPL Insurance have allowed the company to make equity investment of Rs200 million in an associated company TPL Life Insurance Limited, company’s filing on bourse showed today.

The shareholders also authorized CEO in this regard to take all necessary steps required in respect of the aforementioned investment.

To recall, on June 14, the Board of Directors of TPLI decided to make an equity investment of Rs200 million in TPL Life Insurance Limited.

The company said that is desirous of making an investment in TPL Life Insurance Limited.

The aforementioned investment would enable TPLI to expand its footprints in the life insurance market. The Company would be able to use TPL Life’s expertise and relationships to grow its non-life business.

TPL Life Insurance Limited is a subsidiary of TPL Corp Limited, the parent company of TPL Insurance Limited. Mr Muhammad Aminuddin, the CEO of TPL Insurance Limited, is a member of the Board of Directors of TPL Life Insurance Limited.

At the time of reporting this, the stock of the company is being traded at Rs30.65, down by Rs2.42 or 7.32% from yesterday’s price.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	162,896.68 169.98M	0.67% 1091.66
ALLSHR	98,449.69 389.81M	0.63% 617.70
KSE30	48,687.46 89.94M	0.72% 346.80
KMI30	233,849.31 94.62M	0.50% 1168.71
KMIALLSHR	64,048.09 199.49M	0.59% 373.04
BKTi	44,347.06 28.49M	1.07% 471.40
OGTi	34,422.95 8.77M	1.31% 443.56

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,940.00	77,425.00 76,120.00	45.00 0.06%
BRENT CRUDE	110.41	111.58 109.01	-1.69 -1.51%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-7.75 -6.58%
ROTTERDAM COAL MONTHLY	111.50	111.50 111.50	0.90 0.81%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	103.27	104.71 102.12	-1.11 -1.06%
SUGAR #11 WORLD	15.04	15.13 14.69	0.31 2.10%