The Resource Group International Limited (TRGIL) has expressed interest in acquiring 100 percent shares in IBEX and Digital Global Service Ltd (DGS) through purchasing of shares from minority shareholders from these two companies.
TRGIL already owned majority shareholding in IBEX and DGS but its management planned to takeover control over these two Business Process Outsourcing (BPO) corporations to make them 100 percent subsidiaries in future.
TRGIL, which is a subsidiary of TRG Pakistan, offered to buy 29 percent stakes besides its shareholding in IBEX at the rate of 112 pence per share.
It also gave offer to minority shareholders of DGS to buy their 30 percent stakes in the company at the rate of 60 pence per share.
If the minority shareholders agree to sell out their shares to TRGIL at the offered price, IBEX and DGS will be private companies and subsidiaries of TRGIL, according to stock filing issued by Company Secretary Hassan Farooq.
TRG Pakistan is one of the leading IT and BPO companies with global operations and one of few companies in IT industry listed at Pakistan Stock Exchange.
The company has encountering critical financial issues related over the period of two years including short of paid-up capital and now uncontrolled losses.
TRG Pakistan profit increased to Rs 97.162 million in the outgoing financial year 2015-16.
The share trading of TRG is being on top at the Pakistan Stock Exchange (PSX) today which has seen an increase of Rs 1.39 to reach Rs 46.83 per share.
TRG Pakistan owns 60.31% of voting rights in TRG International, a company having shareholding in different companies such as Ibex Global Solutions PLC ( Ibex), Digital Globe Services Ltd. ( DGS) and E-Telequote Insurance and others sixteen firms <http://www.trgworld.com/portfolio.html>