Karachi: A series of significant share transactions have reshaped the ownership landscape of TPL Insurance Limited, culminating in Jazz International Holding Limited acquiring a controlling stake. The transactions, executed on July 10 and July 13, 2026, were part of a strategic move following a Share Purchase Agreement.

On July 10, DEG-Deutsche Investitions- Und Entwicklungsgesellschaft divested 31,488,750 shares at a rate of Rs. 29.00 per share, resulting in a complete exit from the company's shareholding. Simultaneously, TPL Corp Limited acquired an identical number of shares, boosting its cumulative shareholding to 69.66%.

In a concurrent transaction, the Finnish Fund for Industrial Cooperation Limited sold 33,773,760 shares at Rs. 28.00 per share, also exiting its position in the company. TPL Corp Limited absorbed these shares as well, increasing its stake to 86.66%.

A subsequent transaction on the same day saw TPL Corp Limited selling 138,380,320 shares at Rs. 30.00 per share, reducing its holding to 17.00%. This paved the way for Jazz International Holding Limited to acquire 151,625,511 shares on July 13, at the same rate of Rs. 30.00 per share, establishing a controlling 76.33% stake in TPL Insurance.

According to information available from the Pakistan Stock Exchange (PSX), these transactions were facilitated in line with the mandatory tender offer provisions. The developments are set to be reviewed in an upcoming board meeting of TPL Insurance Limited, focusing on any potential non-compliances under clause No. 5.6.4 of the PSX Regulations.

The acquisition marks a strategic expansion for Jazz International in the insurance sector, reflecting a calculated move within the designated market category. The involved parties have ensured compliance with all regulatory requirements, as stipulated by relevant exchange regulations.