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KARACHI: The book-building process of International Packaging Films Ltd’s (IPAK) initial public offering has concluded with an oversubscription of 1.73 times, the company said on Thursday.
“The IPO received an overwhelming response from institutional investors and high-net worth individuals as the strike price clocked in at Rs25.2 per share, higher than the floor price of Rs21,” said the company.
IPAK, the largest manufacturer of flexible packaging film, is going to raise Rs1.77bn.
The general public will subscribe to 17,526,364 shares (25pc of the total offer size) on May 15-16 at the strike price of Rs25.2, the company said.
Published in Dawn, May 10th, 2024
