TPL Corp Limited, in collaboration with Abhi (Private) Limited, has completed the acquisition of a majority shareholding in FINCA Microfinance Bank Limited, the company announced in a stock filing on Friday.
The transaction marks the conclusion of a process first disclosed in November 2024. According to a statement issued by TPL Corp to the Pakistan Stock Exchange, the acquisition aligns with the regulatory requirements under the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Rule Book.
“In continuation to our earlier announcement dated November 12, 2024, we are pleased to announce that the acquisition of majority shareholding in FINCA Microfinance Bank Limited by TPL Corp Limited along with Abhi (Private) Limited has been successfully completed,” read the notification sent to the PSX.
The transaction marks a significant development in Pakistan’s microfinance sector, as the two entities acquire stakes from the bank’s existing shareholders, including FINCA Microfinance Coöperatief U.A., International Finance Corporation (IFC), Triodos Fair Share Fund, and Acumen Pakistan.
On January 13, 2025, the Competition Commission of Pakistan (CCP) approved the acquisition of a 94.8% shareholding in FINCA Microfinance Bank Limited by TPL Corp Limited and Abhi (Private) Limited.
Under the agreement, TPL Corp will acquire 33.17% of FINCA Microfinance Bank’s shares, while ABHI (Private) Limited will secure a majority stake of 61.61%. Following its competition assessment, the CCP concluded that the acquisition would not create a dominant market position for the acquirers in Pakistan’s microfinance lending market.
Earlier, in November last year, the State Bank of Pakistan (SBP) approved the process to proceed with the acquisition of up to 94.8% shareholding in FINCA Microfinance Bank.
