Karachi May 11 2024: International Packaging has decided to offer shares to the general public at a discount to the strike price, according to book runner filing to the exchange.
“As a highly appreciated goodwill gesture, IPAK has agreed to offer shares to the General Public at PKR 24.00 per share (4.76 percent discount to the strike price of PKR 25.20 per share) against subscription of 500, 1000, 1500 and 2,000 shares,” states the book runner.
Subscription above 2,000 shares will be issued at the Strike Price of PKR 25.2.
The book-building process of International Packaging Films Limited’s (IPAK) Initial Public Offer (IPO) 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 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.