TPL Corp Limited (TPL) and Abhi (Private) Limited have announced a strategic partnership to acquire FINCA Microfinance Bank Limited through a Share Purchase Agreement with FINCA Microfinance Coöperatief U.A. This acquisition marks a significant step towards expanding financial services across Pakistan and advancing financial inclusion in the country.
The acquisition is seen as a transformative move by TPL, which aims to leverage its diverse business portfolio to enhance its impact in the financial sector and foster a more inclusive financial ecosystem in Pakistan. The deal underscores TPL’s commitment to broadening access to financial services and supporting economic growth.
The completion of the acquisition is contingent upon obtaining all necessary regulatory approvals and meeting requisite closing conditions.
TPL Corp’s primary business activity involves making investments in various groups and companies. Following the announcement, TPL’s stock saw a notable increase, trading at Rs. 5.85, up 14.48 percent or Rs. 0.74, with over 3.28 million shares exchanged on Friday.
