Karachi October 3 2022: Greentree Holdings Limited a subsidiary of TRG International have acquired on September 30, 2022, 11,534,814 at price of PKR 128.33 per share voting shares of TRG Pakistan, according to company filling to the exchange.
On account of this acquisition Greentree Holding total shareholding in the company is 129.75 million shares which represents 23.79 percent of the total issued voting shares of the company, as their previous holding in the company was 118.22 million shares.
Greentree Holdings Limited is a Special Purpose Vehicle (SPV) and subsidiary of TRG International (TRGIL). This SPV was set with the purpose of acquiring TRG Pakistan shares from the market in order to utilize the proceeds from the sale of its stake in E-Telequote (subsidiary of TRGIL) and to maximize the value & capital return to its shareholders.
TRG Pakistan Limited was incorporated in Pakistan as a public limited company on December 2, 2002 under the repealed Companies Ordinance, 1984. On May 14, 2003 the Company obtained a license from the Securities and Exchange Commission of Pakistan (“SECP”) to undertake venture capital investment as a Non-Banking Finance Company in accordance with the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 (NBFC Rules). The principal activity of the Company, through its associate, The Resource Group International Limited (TRGIL) is to invest in a portfolio of investments primarily in the Technology, IT enabled services and medicare insurance sectors.
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