Karachi: With reference to the captioned subject, we would like to inform The Karachi Stock Exchange (Guarantee) Limited (“KSE”) regarding the status of Initial Public Offering of TPL Direct Insurance Limited (TDI) or the Company Book Building portion.
Alhamdolillah, we are highly pleased and take great pride in informing you that TDI Book Building portion has been successfully subscribed. We received bids of 10.005 million Ordinary shares against an offer of 10.0 million Ordinary shares. The strike price determined via Dutch auction method calculates to PKR 10.0 per share as against a floor price of PKR 10.0 per share.
We would like to take this opportunity to show our gratitude to KSE and SECP who have been supportive to us throughout this issue.
For more information, contact:
Syed Khurram Shahid
Senior Manager, Investment Banking
Umair A. Shaikh
Head, Investment Banking
TPL Direct Insurance Limited
602, Continental Trade Centre,
Block 8, Clifton, Karachi, Pakistan
UAN: +9221 111-253-111
Fax: +9221 35867992