Pak tracking service firm TPL Trakker plans IPO to raise $8.4 mn this month

Pakistani mapping and tracking services provider TPL Trakker plans to raise $8.4 million in an IPO later this month and use the proceeds to pay its debt. It will offer 115.7 million shares at 12 rupees each this week. The company is selling shares amid a 33% rally in the benchmark index from a six-year low on March 25.