International Packaging Films Limited

Description of Transaction:

• AHL acted as the Financial Advisor and Joint Lead Arranger for International Packaging Films Limited and successfully completed the IPO by raising PKR 1,764 Million for the Company.
• The total offer size was PKR 1,472 million; however, the Company has received a total bid application of PKR 2,540 million, oversubscribed by 1.73 times.
• Strike Price was PKR 25.20/share

About the Issuer:

• International Packaging Films Limited (“IPAK” or the “Company”) was founded in 2015 as a green field project to manufacture Biaxially Oriented Polypropylene (“BOPP”) films.
• The Company is a pioneer of the five-layer BOPP film in the packaging industry of Pakistan. With its complete stateof-the-art 8700mm Co-Extruded BOPP production line acquired in 2017 from one of the world’s most renowned and largest manufacturer of BOPP film machines, Bruckner Maschinenbau (Germany).
• It harbors an operational nameplate capacity of 41,360 tons per annum capable of producing BOPP Films of various grades and thickness ranging between 10 to 60 microns.
• IPAK started producing 5-layer BOPP films in September, 2017 while its major competitor, Tripack used 3-layer technology and upgraded to five-layer technology in 2018. Currently, only IPAK and Tri-pack are the manufacturer of five-layer BOPP Films in Pakistan.