September 20, 2024 — TPL Corp Limited has officially disclosed a significant acquisition that is poised to reshape the microfinance sector in Pakistan. According to an official announcement made to the Pakistan Stock Exchange (PSX), TPL Corp, in collaboration with Abhi (Private) Limited, has entered into a Share Purchase Agreement with FINCA Microfinance Coöperatief U.A., aimed at jointly acquiring FINCA Microfinance Bank Limited.
The acquisition, announced in line with regulatory obligations under Sections 96 of the Securities Act, 2015, and the rules of the Pakistan Stock Exchange, marks a critical step in the expansion of TPL’s diverse business portfolio. TPL’s Board of Directors had previously approved the acquisition on April 29, 2024, setting the stage for what the company sees as a transformative move in Pakistan’s financial services landscape.
Source: PSX