Karachi: International Packaging Films Limited has announced a successful completion of a Right Issue by its subsidiary, Petpak Films (Private) Limited, resulting in a significant increase in its effective group holding. The development, reported on June 30, 2026, is aligned with Petpak's strategic debt restructuring efforts.

According to the company's communication, the Right Issue, initially disclosed on May 21, 2026, saw Petpak Films issue 213,000,000 ordinary shares at a par value of PKR 10 per share, generating total proceeds of PKR 2.13 billion. This move has elevated Petpak Films' issued and paid-up share capital to PKR 10.65 billion.

The Right Issue was fully subscribed within the group, with International Packaging Films Limited acquiring approximately 47% or 100,110,013 shares. The remaining 53% or 112,889,987 shares were acquired by Global Packaging (Private) Limited, a wholly-owned subsidiary of the company. This internal subscription strategy has culminated in an increase in the company’s effective group holding in Petpak Films from 52% to approximately 61.6%.

The completion of the Right Issue is part of Petpak's broader initiative to optimize its capital structure through debt restructuring. According to information available from the Pakistan Stock Exchange (PSX), the transaction is in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations.

This development marks a significant step for International Packaging Films Limited in reinforcing its position within Petpak Films and reflects the group's commitment to bolstering its financial framework. The increase in shareholding is expected to provide enhanced control and influence over strategic decisions at Petpak Films, positioning the group to better navigate the competitive landscape of the designated market category.