The IPO, which opened on 30th October, offered 51,724,144 Ordinary Voting Shares at an Issue Price of LKR 11.60 each, raising LKR 600 million in capital.
The Issue was oversubscribed 6.3 times within hours of opening.
Proceeds from the IPO will be used to settle selected term loans and partially repay revolving import loans, strengthening the Company’s balance sheet and reducing finance costs.
JF Packaging serves leading local and international brands and is recognised as a leader in introducing eco-friendly packaging solutions to the Sri Lankan market.