Karachi December 26 2023: TPL REIT Management Company Limited (TPL RMC) a wholly owned subsidiary of the TPL Properties, has accorded its approval on December 26, 2023 for the listing of TPL REIT Fund I on the Pakistan Stock Exchange Limited (“PSX”).
The last reported NA V of the fund is PKR 28.99 billion.
This listing, in accordance with Chapter 5 of the Pakistan Stock Exchange Regulations, will be conducted by way of a Fixed Price Listing through an offer for sale to the public (“OFS”). Existing unitholders (“Offerors”) will participate on a pro-rata basis, with the price per unit determined by the TPL RMC based on the Net Asset Value (NA V) prevailing at the time of the unit sale.
However, the aforesaid procedure shall remain subject to obtaining necessary approvals and consents from the Anchor Investor(s) and the Regulators.
