, pub-2762820915666464, DIRECT, f08c47fec0942fa0
Tech, Business & Political News from Pakistan

- Advertisement -

IPAK Raises PKR 1.77 billion in Book Building Process!


International Packaging Films Limited IPO Receives Overwhelming Response from Investors!

Karachi: The book-building process of International Packaging Films Limited’s (IPAK) Initial Public Offer (IPO) has concluded with an oversubscription of 1.41x times, the company said today.

- Advertisement -

Japanese Consortium Achieves Breakthrough with World’s First 6G Wireless Device

“The IPO received an overwhelming response from institutional investors and high-net worth individuals as the strike price clocked in at Rs 25.2 per share, higher than the floor price of Rs 21 the leading flexible packaging films manufacturer of the country said in a statement.

International Packaging Films Limited is going to raise Rs 1.77 billion in total. Ipak listing is a significant event as Ipak is the largest manufacturer of flexible packaging film.

Several brokerages had issued almost unanimous calls to ‘subscribe,’ which resulted in investor demand amounting to Rs 1.77 billion against the IPO’s book-building size of Rs 1.47 billion at the floor price.

The general public will subscribe to 17,526,364 shares (25 percent of the total offer size) on May 15-16 at the strike price of Rs 25.2, the company said. The proceed from IPO will be utilized to pay off some of the debts.

- Advertisement -

Coca-Cola Pakistan Receives Governor’s Appreciation Certificate for Responsible Business Practices

Naveed Godil, CEO International Packaging Films Limited, in his message thanked investors for their overwhelming response.

Muhammed Amin, Chairman of International Packaging Films Limited expressed his gratitude for the confidence of investors in the company. He said “ There is a tremendous potential to increase shareholders’ value. The Board and the management is fully committed to the plan and has a clear strategy of increasing market share, driving growth of domestic market through import substitution and increasing specialized films export”. “ As we grow, a wider number of shareholders will reap the benefits post IPO,” He further said.

Pakistan, Japan discuss bilateral cooperation in industry, food security

International Packaging Films Limited recorded net sales of PKR 19.9 billion in the year 2023 while its gross margin for the financial year 2023 remained 27%. Its profit before tax for year 2023 was 2.9 billion while its net profit after tax was 1.6 billion. The company’s 3-year revenue CGAR remained at 41%.

The group collectively offers a complete portfolio of packaging solutions, producing BOPP, CPP, and BOPET films, making it the first-ever group in Pakistan to provide one-window flexible packaging solutions, located at two strategically important locations in the country.

- Advertisement -

- Advertisement -

- Advertisement -