Pakistani rival to Google Maps plans IPO to pay down debt

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Pakistani rival to Google Maps plans IPO to pay down debt
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Mapping and tracking services provider TPL Trakker is working with government to locate Covid-19 hotspots

TPL Trakker, a Pakistani mapping and tracking services provider that is also working with the government to locate Covid-19 hotspots, plans to raise 1.4-billion rupees in an initial public offering and use the proceeds to pay its debt and expand.

The company is selling shares amid a 33% rally in the benchmark index from a six-year low on March 25, and as demand for its services rise. Asad Umar, the minister overseeing measures to control the virus, said that restrictions based on geolocations have slowed the pace of the pandemic’s spread.

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BDliveSA /  🏆 12. in ZA

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