IFC moves to redeem 2m PKGS preference shares
MG News | January 26, 2026 at 12:46 PM GMT+05:00
January 26, 2026 (MLN): Packages Limited (PSX: PKGS) has received a redemption notice from the International Finance Corporation (IFC) to redeem 2 million preference shares/convertible stock, part of an outstanding 8.19 million issued under a 2009 subscription agreement.
The said request will be considered and deliberated, inter alia, at the Board Meeting scheduled to be held on 27 January 2026 at 03:00 pm, which will be convened at Karachi and via Zoom, the company said in a filing to the Pakistan Stock Exchange.
The redemption request follows the terms outlined in the subscription agreement signed with IFC on March 25, 2009, and the relevant provisions of the company’s Articles of Association.
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