The Board of Directors of the TPL REIT Management Company Limited, a wholly-owned subsidiary of TPL Properties, on Tuesday granted its approval to list TPL REIT Fund I on the Pakistan Stock Exchange (PSX).
According to a notice sent to PSX by TPL Properties, the fund will be offered to the public through a fixed-price listing where existing unit-holders will sell their units at a price determined by TPL REIT Management Company Limited (TPL RMC), the manager of the fund.
TPL REIT Fund I has a net asset value of PKR 28.99 billion.
However, the listing process will follow the regulations of the Securities Act, 2015 and the PSX Regulations, and will require the consent of the anchor investors and the regulators. The fund will also disclose the material information as required by the law.
waiting for tpl reit ipo