Ex-Pack IPO Oversubscribed in Matter of Minutes

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Ex-Pack Corrugated Cartons Limited’s LKR 700 million IPO was oversubscribed within minutes of opening today. In a notice to the Colombo Stock Exchange, the Company’s Registrar stated that the issue will close at 4.30pm today, 22nd October, and the basis of allotment will be notified shortly thereafter. The co-managers to the issue, Capital Alliance and Asia Securities, commented that there was exceptional interest in the IPO from the very beginning and that it has drawn active interest from a range of investors, both individuals and institutions. Funds raised by the IPO will go towards a 3-billion-rupee ultramodern production facility, which is expected to raise monthly volumes from 2,650 metric tons, currently, to 4,000 metric tons by 2025. The Company remains resolutely committed to delivering exceptional value to its investors, customers, people, communities and other stakeholders.

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