Investors with over 2,000 IPAK shares subscription to receive proportional allocation

MG News | May 21, 2024 at 04:03 PM GMT+05:00

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May 21, 2024 (MLN): Excess applications for the public subscription of International Packaging Films Limited (IPAK) ordinary shares will be distributed proportionally among investors who subscribed for over 2,000 shares.

Arif Habib Limited (AHL), the lead manager and joint book runner for the IPO shared the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday.

To note, the public subscription, conducted on May 15 and 16, 2024, received applications for 17,566,100 shares, slightly surpassing the issue size of 17,526,364 shares.

Accordingly, “applications in excess to the issue size shall be allocated on a pro-rata basis among the investors who have subscribed over 2,000 shares,” the notice said.

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