Karachi, June 30, 2026 – International Packaging Films Limited (IPAK) has announced the successful completion of the rights issue by its subsidiary, Petpak Films (Private) Limited (PPAK), resulting in an increase in the company’s effective group ownership in the subsidiary from 52% to approximately 61.6%.
According to the company’s notification submitted to the Pakistan Stock Exchange (PSX), PPAK issued 213 million ordinary shares at a par value of PKR 10 per share, raising a total of PKR 2.13 billion. Following the transaction, PPAK’s issued and paid-up share capital has increased to PKR 10.65 billion.
The company stated that the rights issue was undertaken as part of PPAK’s debt restructuring initiative, with the objective of strengthening its balance sheet and optimizing its capital structure.
As part of the subscription, International Packaging Films Limited acquired 100.11 million shares, representing approximately 47% of the rights issue. The remaining 112.89 million shares, or around 53%, were subscribed by Global Packaging (Private) Limited (GPAK), a wholly owned subsidiary of IPAK. This ensured that the entire rights issue was fully subscribed within the company’s group.
Following the successful completion of the transaction, the group’s effective holding in Petpak Films has increased from 52% to approximately 61.6%, reinforcing International Packaging Films’ control over the subsidiary and supporting its long-term financial restructuring strategy.
The company disclosed the material information in compliance with Section 96 of the Securities Act, 2015 and the Pakistan Stock Exchange Regulations, informing investors of the successful completion of the capital-raising exercise and its impact on the group’s ownership structure.
