Karachi, TPL Trakker Limited informed Pakistan Stock Exchange that TPL Properties Limited, a subsidiary of TPL Trakker Limited, has been granted conditional approval by the Securities and Exchange Commission of Pakistan in respect of its proposed initial public offering of shares.
TPL Trakker Limited was incorporated in Pakistan on December 4, 2008 under the Companies Ordinance, 1984. TPL Trakker Limited is a subsidiary of TPL Holdings Private Limited which acts as the ultimate parent company of the group and holds 70% shares of the company. TPL Trakker Limited is a joint venture with DigiCore of South Africa and is responsible for markets in the Middle East & South Asian region with over 150,000 units installed. The principal activity of the company is installation and sale of tracking device, vehicle tracking and fleet management. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located in Karachi.
The subsidiary companies of the group are TPL Direct Insurance Limited, TPL Security Services Private Limited and EVAC Pakistan Private Limited. The associates of the company are Trakker Middle East L.L.C. and TPL Properties Private Limited.
The symbol “TPL” is being used by the stock exchanges for the shares of TPL Trakker Limited.