KARACHI: In a significant development for Pakistan’s packaging industry, Arif Habib Limited has announced the launch of an Initial Public Offering (IPO) for International Packaging Films Limited (IPAK). The Book Building dates are 8th & 9th May, while Registration Dates are 6th- 9th May, 2024.
The IPO will see International Packaging Films Limited (IPAK) offering 70.1 million ordinary shares, which constitutes 10.01% of the company’s total post-IPO paid-up capital, at a floor price of PKR 21.0 per share.
Arif Habib Limited, a prominent name in financial services, has been appointed as the Mandated Lead Manager & Book Runner for this IPO, indicating a strong backing for IPAK’s market debut.
Founded on October 2, 2015, as a private limited company under the Companies Ordinance 1984, IPAK transitioned into a public limited entity on June 11, 2021, under the Companies Act, 2017. Specializing in the manufacturing and selling of Biaxially Oriented Polypropylene (BOPP) films, IPAK has established itself as a key player in the industry.
Through its subsidiary CPAK, IPAK has expanded its manufacturing capabilities to include Cast Polypropylene (CPP) films. Moreover, the company is poised to further diversify its portfolio by entering the Biaxially Oriented Polyethylene Terephthalate (BOPET) business through another subsidiary, GPAK.
This IPO marks a pivotal moment for IPAK as it seeks to capitalize on its industry expertise and expand its market presence. Investors are keenly watching as IPAK embarks on this new chapter of growth and innovation.