Trust Investment Bank Limited (KASE:TRIBL) agreed to acquire 51% stake in Tricon Developers from Asif Kamal for approximately PKR 670 million on June 20, 2012. The offer per share is PKR 10. 67. One million shares are being acquired as part of the transaction. The transaction has been approved by the Board of Directors of Trust Investment Bank on June 20, 2012. The transaction requires the approval of shareholders of Trust Investment Bank in an extraordinary general meeting to be held on September 5, 2012. The shareholders of Trust Investment Bank approved the deal on September 5, 2012.

Trust Investment Bank Limited (KASE:TRIBL) completed the acquisition of 51% stake in Tricon Developers in the year ended June 30, 2013.