Business

Notice: TPL Trakker to sell 33% share capital

For the six-month period ending June 30, TPL Direct Insurance posted a net profit of Rs36.4 million

Our Correspondent October 13, 2014 Less than a minute read

KARACHI:

TPL Trakker, which is the holding company of TPL Direct Insurance, has entered into a share price agreement with Greenoaks Global Holdings to sell 33% of its issued and subscribed share capital (SC) at Rs30 per share.

This was stated by TPL Direct Insurance, a non-life insurance company, in a notice sent to the Karachi Stock Exchange on Monday.

For the six-month period ending June 30, TPL Direct Insurance posted a net profit of Rs36.4 million, up 9.6% from Rs33.2 million recorded in the corresponding period of the preceding fiscal year.

Its share price closed at Rs25 at the end of the trading session on Monday. It has increased 95.3% since the beginning of the fiscal year. Greenoaks Global Holdings is an affiliate of Greenoaks Global Insurance, formerly Rosewood Insurance Group AG.

Published in The Express Tribune, October 14^th, 2014.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.