LAHORE: Arif Habib Limited (AHL), serving as the lead manager and joint book runner for the Initial Public Offering (IPO) of International Packaging Films Limited (IPAK), has announced the pro-rata allocation of shares due to an oversubscription.
The public subscription for IPAK, conducted on May 15 and 16, 2024, received applications for 17,566,100 ordinary shares, slightly exceeding the set issue size of 17,526,364 shares.
In a communication to the Pakistan Stock Exchange (PSX) on Tuesday, AHL detailed that any applications exceeding the issue size will be proportionally distributed among investors who subscribed for over 2,000 shares.
This approach ensures a fair allocation process amidst heightened investor interest.
This IPO marks a significant moment for IPAK as it taps into the public market to bolster its financial footing and expand operations.
The oversubscription underscores the robust investor confidence in IPAK’s business model and future growth trajectory.
