PKGS greenlights IFC preference share redemption

MG News | January 28, 2026 at 10:13 AM GMT+05:00

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January 28, 2026 (MLN): Packages Limited's (PSX:PKGS) has approved the redemption of 2,000,000 preference shares/convertible stock as requested by International Finance Corporation (IFC), Washington D.C., U.S.A.

The preference shares were issued under a Redemption Notice dated January 23, 2026, pursuant to a Subscription Agreement with IFC dated March 25, 2009, according to the company's statement issued today.

The board has authorized the Chief Executive Officer and Chief Financial Officer of the company to negotiate the redemption price with IFC and finalize the terms with mutual consent.

Currently, 8,186,842 preference shares/convertible stock remain outstanding, which were originally issued to IFC under the Subscription Agreement dated March 25, 2009, as per the company's Articles of Association.

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