TPL Trakker listed on PSX

KARACHI: TPL Trakker Limited, a pure tech-based company, was listed on the Pakistan Stock Exchange with effect from Monday, August 10, 2020, a statement said.

A gong ceremony to mark the company’s listing was held on Wednesday, it added.

This is the second listing for the financial year 2020/21, which comes only five days after the successful listing of The Organic Meat Company Limited on the Pakistan Stock Exchange. In the greater interest and safety of the public and to avoid a large gathering of people, the gong ceremony was streamed digitally through virtual media channels, it said. TPL Trakker Ltd went public by offering 58.3 million shares (base issue) at Rs12/share along with an additional 57.4 million shares (Green-Shoe Option) at Rs12/share from its Initial Public Offering (IPO) via the fixed price mechanism. The public offering took place on July 22 to July 23, 2020. The public subscription was a success for TPL Trakker Limited, as the issue of 58.3 million shares was oversubscribed by 14.6 percent, or 1.15 times, it added.