Greentree Holdings Limited invested Rs. 1.56 billion in TRG Pakistan by way of purchasing over 10.4 million shares at the cost of Rs 149.74.
A subsidiary of TRG International, Greentree Holdings Ltd, has increased its shareholding to 140 million shares, which is more than a 25 percent stake in TRG Pakistan.
It is to be mentioned that Greentree Holdings Limited is a Special Purpose Vehicle (SPV) and a subsidiary of TRG International (TRGIL).
This SPV was formed with the objective of acquiring TRG Pakistan shares from the market in a bid to utilize the proceeds from the sale of its stake in E-Telequote (a subsidiary of TRGIL) and to maximize the value & capital return to its shareholders.
Moreover, on December 2, 2002, TRG Pakistan Limited was incorporated in Pakistan as a public limited company under the repealed Companies Ordinance, 1984. While on May 14, 2003, the Company got a license from the Securities and Exchange Commission of Pakistan (SECP) to undertake venture capital investment as a Non-Banking Finance Company in line with the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 (NBFC Rules). The main activity of the Company, through its associate, the Resource Group International Limited (TRGIL) will invest in a portfolio of investments mainly in the Technology, IT-enabled services and medicare insurance sectors.
Meanwhile, the aim of TRG Pakistan is to?be the most efficient provider of business process outsourcing services by setting industry standards for cost and quality of services.?The Resource Groups?long-term success is driven by a persistent focus on recruiting and developing the most talented pool of human capital in the industry.
It is to be mentioned that TRG Pakistan is a Pakistani venture capital company which invests in business process outsourcing companies and is headquartered in Karachi. It was established in 2002. Its branches are widespread in more than seven countries and have more than 20,000 employees in 26 sites.