AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Arif Habib Limited announced the successful completion of the Initial Public Offering (IPO) for International Packaging Films Limited (IPAK), approved by the Pakistan Stock Exchange (PSE) on March 13, 2024. The IPO strike price was set at PKR 25.20 per share following a book-building process held on May 8-9, 2024. The offering attracted substantial interest, receiving commitments of approximately PKR 2,540 million against an issue size of PKR 1,472 million, marking an oversubscription rate of 1.73 times. A total of 224 investors participated, with 138 emerging successfully in the allocation.
The distribution of shares among the successful investors included significant allotments to High Net Worth Individuals, who received 32,851,426 shares. Other Institutions and Corporates were allocated 9,682,500 shares, while TREC Holders were allocated 10,045,165 shares. The detailed breakdown highlights a robust participation across various investor categories, reflecting strong market confidence in IPAK’s business prospects.