TPL REIT Fund-I Targets Rs403 Million in Pakistan Stock Exchange Debut
TPL Real Estate Investment Trust Fund-I is scheduled to offer a minimum of 1.25% (22.94 million) units at Rs17.59 per unit to the general public with the aim of raising Rs403 million in the ongoing week at the Pakistan Stock Exchange
Fund runners may opt for selling an additional 1.22% (22.39 million) units. They are looking to raise up to Rs797 million.
Topline Research said, TPL REIT Management Company Limited, a 100% subsidiary of TPL Properties, had launched “Pakistan’s first and largest hybrid Shariah-compliant REIT namely TPL REIT Fund-I.”
REITs are a type of investment that allows people to invest in real estate without having to buy property themselves. This REIT has invested in three projects:
1. Mangrove
2. One Hoshang
3. Technology Park.
The starting price of the units is Rs17.59, which is the same as the current value of the REIT’s assets
Currently, unit holders of the REIT scheme consist of TPL Properties and eight commercial banks. The initial REIT size is Rs18.35 billion. Of this, 61% is held by anchor investors and 39% by TPL Properties. TPL Properties is a strategic investor and the eight commercial banks are anchor investors.
The NAV in light of ongoing progress on the three projects of TPL REIT,
The units prices will be regularly updated and displayed on the stock exchange for to investors track their investment value and will benefit investors whose portfolios need to reflect current market value
TPL REIT must sell units to the public by June 24th, 2025 to follow regulations , as it’s been 3 years since they started the fund. Selling units publicly and gets them listed on the Pakistan Stock Exchange, attracts foreign investors who’ve shown interest
This is the third IPO this year on the PSX, which is a sign of improvement in Pakistan’s economy.
Earlier, Secure Logistics Group successfully raised Rs600 million through the sale of 50 million shares at Rs12 per share in March 2024.
Also, International Packaging Films is looking to raise at least Rs.1.47 billion next week. They’ll be selling 70.1 million shares through an auction, with the starting price set at Rs.21 per share.
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