SECP allows TPL Properties to issue sale offer for TPL REIT Fund I

The Securities and Exchange Commission of Pakistan (SECP) has accorded its approval to TPL Properties Limited to issue the Offer for Sale Document of TPL REIT Fund I.

According to a notice sent to the Pakistan Stock Exchange (PSX) on Monday,  TPL Properties has been allowed to sell the 45,324,500 Units with a Base Offer of 22,937,500 Units and Green Shoe Option of up to 22,387,000 Units by the Company and other Accredited Investors.

The Fund is expected to get listed early April 2024 subject to approval of dates by the PSX. 

TPL REIT Fund I (Fund), a fund owned 38.6% by TPL Properties, and being managed by TPL REIT Management Company Limited is a wholly-owned subsidiary of TPL Properties Limited.