TPL REIT Fund I has announced that it is exploring a potential divestment from HKC (Private) Limited through the sale of the underlying project land, identified as “Project-B One Hoshang,” the fund disclosed in a notice to the Pakistan Stock Exchange (PSX) on Friday.
“We are pleased to inform you that TPL REIT Fund I (‘Fund’) has decided to undertake the potential disposal/divestment from HKC (Private) Limited (‘HKC’), through the sale of the project land (‘Project-B One Hoshang’),” the notice stated.
The fund emphasised that the proposed transaction is still at a preliminary stage and remains conditional on multiple layers of approvals and documentation. “The proposed transaction remains subject to the execution of definitive agreements, receipt of all requisite corporate, regulatory and third-party approvals, and completion of necessary formalities and processes by the Fund and the SPV in accordance with the constitutive documents of the Fund and applicable laws,” it added.
TPL REIT Fund I further informed the exchange that it will update the market as and when there is concrete progress. “We will inform you as and when any significant progress materializes in respect of the above,” the notice said.
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