IPAK makes its debut on PSX

International Packaging Films Limited (IPAK) was officially listed on the Pakistan Stock Exchange (PSX) during a simple gong ceremony held on Monday. This event marked the commencement of public trading of the company’s shares on the bourse, providing shareholders with a platform for the exchange of shares. IPAK had previously raised equity financing worth Rs1.76 billion by selling 70.10 million shares at Rs25.20 per share last month. The book-building phase of the initial public offering (IPO) generated significant interest from investors, resulting in oversubscription of the issue by a factor of 1.73 in terms of value. The strike price of Rs25.20 per share was determined during this phase, said a press statement released by PSX. The PSX received applications totalling Rs2.54 billion, exceeding the base issue size of Rs1.47 billion, thus oversubscribing the issue.