Karachi: TPL Properties Limited, a substantial shareholder in TPL REIT Fund I, has recently executed a series of REPO transactions involving its shares to raise financing, according to disclosures made under the Pakistan Stock Exchange (PSX) regulations. These transactions occurred in early July as the company sought financial liquidity.

On July 3, TPL Properties Limited executed a REPO-Out transaction, selling 6,097,561 shares at a rate of Rs. 8.20 per share. The transaction, categorized under the Central Depository System (CDS) and Non-Deliverable Market (NDM), brought the company's cumulative shareholding to 675.40 million shares, representing 36.80% of the total shares. This transaction marked a Big move in the company's shareholding pattern.

The subsequent day, on July 4, the company engaged in a REPO-In transaction, repurchasing the identical number of shares—6,097,561—at a slightly higher rate of Rs. 8.35 per share. According to information available from the Pakistan Stock Exchange (PSX), this transaction is part of a REPO arrangement spanning 32 days, explicitly designed to secure financing for the company.

The transactions are slated for presentation in the upcoming Board meeting, where any non-compliance issues, if present, will be duly highlighted for consideration as required under clause No. 5.6.4 of PSX Regulations. This regulatory measure ensures transparency in the dealings of executives and substantial shareholders within the market.