Karachi May 8 2024: TPL REIT Fund I, Pakistan’s first Shariah compliant REIT fund, successfully raised an amount of PKR 588 million from Pakistan Stock Exchange as its issue is oversubscribed by 1.46 times but remained under Green Shoe Option.
The Initial Public Offering (“IPO”) of TPL REIT Fund I held on May 02, 2024 and May 03, 2024 (both days inclusive).
The final subscription figures received from the Banker to the Offer, PSX e-IPO and CDC e-IPO as compiled by M/s Digital Custodian Company Limited (the Registrar), are provided below. We would like to inform you that applications for a total of 33,473,295 units were received against the offer, comprising of a Base Offer of 22,937,500 units and a Green Shoe Option of 22,387,000 units.
The Base Offer has been oversubscribed by 10,535,795 units (1.46 times). Since the oversubscription is within the quantum of the Green Shoe Option, all applications shall be accepted and allotted units, subject to review and scrutiny by the Registrar as per the defined procedures.
The Fund is Pakistan’s first Shariah Compliant Sustainable Development Impact REIT Fund. This fund will act as a catalyst for the country’s economy and is an opportunity to invest in sustainable assets, seeking to reap the benefits of Pakistan’s real estate sector boom.
