JF Packaging to launch IPO on October 30

JF Packaging Limited, a leading flexible packaging solutions provider and a subsidiary of Lankem Ceylon PLC, plans to launch its initial public offering (IPO) of ordinary voting shares on October 30, according to the disclosures made to the Colombo Stock Exchange (CSE).

Lankem Ceylon said in a filing that JF Packaging has received approval in principle from the CSE to list its shares by way of an offer for subscription on either the Main Board or Diri Savi Board. The IPO will offer 51,724,144 ordinary voting shares at Rs.11.60 each.

The company said it would hold an investor forum on October 21, to provide the potential investors with an overview of its operations, business model and growth plans. The forum will be open to both local and international investors via an online stream, allowing the participants to engage with the company’s leadership.

JF Packaging, described as a multi-award-winning innovator in Sri Lanka’s packaging industry, said it aims to offer the investors an opportunity to gain insights into what it called a compelling investment opportunity.