Petpak Films Right Issue lifts IPAK stake to 61%

MG News | June 30, 2026 at 10:57 AM GMT+05:00

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June 30, 2026 (MLN): International Packaging Films Limited (PSX:IPAK) has completed the Right Issue of its subsidiary Petpak Films (Private) Limited, raising the company's effective group holding in PPAK from 52% to approximately 61.6%.

According to the company's statement issued, International Packaging Films Limited said PPAK, a 52% owned subsidiary at the time, had successfully completed the Right Issue announced through its letter dated 21 May 2026 as part of the subsidiary's debt restructuring initiative.

PPAK issued 213,000,000 ordinary shares at a par value of Rs10 per share, raising aggregate proceeds of Rs2.13 billion and taking its issued and paid-up share capital to Rs10.65 billion.

Of the total Right Issue, the Company subscribed 100,110,013 shares (approximately 47%), while the remaining 112,889,987 shares (approximately 53%) were subscribed by Global Packaging (Private) Limited, a wholly-owned subsidiary of the Company, resulting in the entire Right Issue being subscribed within the Company's Group.

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