TRG Pakistan has no direct holding in IBEX

November 16, 2022 (MLN): TRG Pakistan has no direct holding in IBEX, and its interest in IBEX is held indirectly through its shareholding in TRG International, the company said in a response letter to PSX which was sent with reference to the online article pertaining to Ibex Limited wherein it mentioned that the company was attracting preliminary interest from suitors including buyout firm CVC Capital Partners. 

The trading of business process outsourcing provider Ibex Holdings Ltd. at Nasdaq halted on November 11, 2022, right after the surfacing of this news. 

"The company’s knowledge of this matter is limited to the information that IBEX releases publicly. In fact, the online article itself refers to a statement made by persons “who asked not to be identified because the information is private” which clearly suggests that the information disclosed was non-public information," the company explained further.

“Further, we were informed that IBEX will make appropriate disclosures, if and when required, in accordance with applicable laws and regulatory framework,” it read.

While the company is not privy to any information regarding the matter, it subsequently sought clarification from TRG International, who has informed the company that because IBEX is publicly traded on the NASDAQ, it is regulated by NASDAQ and US securities laws and that, as a matter of policy, IBEX does not comment on market rumors or speculation.

 In light of these facts, TRG Pakistan is not privy to any further information or details regarding the matter and, as such, is not in a position to comment further on the matter, it added.

IBEX was incorporated under the laws of Bermuda, which is partially owned by an associated undertaking of TRG Pakistan Limited, namely The Resource Group International Limited (TRG International).

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