Karachi February 11 2022: TRGI (TRG International) special purpose vehicle still have USD 85 million in cash and deferred cash to buy shares of TRG Pakistan, as disclosed by TRG Pakistan CEO while speaking to the Analyst community here at Pakistan Stock Exchange.
In December 2021, TRGI offered to all of its shareholders a redemption of proceeds received from sale of e-TeleQuote at an enterprise value of USD 600 million. TRG Pakistan decided to retain the proceeds of its share which is equivalent to USD 119 million with the TRGI.
TRGI made a special purpose vehicle with allocation of USD 119 million to purchase share of TRG Pakistan from market. Up to date the fund has purchased shares worth of USD 34 million from public through market transactions.
CEO added that “Afiniti which is one of the subsidiaries of TRG International has generated revenue of USD 238 million in FY 2021 with growth of 300 percent on year on year basis. Afiniti holds one million plus interactions daily.”
