JF Packaging IPO oversubscribed on opening day

JF Packaging Limited’s initial public offering (IPO) drew strong investor demand, been oversubscribed on its opening day.

The IPO, priced at Rs. 11.60 per share, raised around Rs. 600 million. A total of 51.7 million ordinary voting shares were offered to the public.

HNB Investment Bank served as the Financial Advisor and Manager to the Issue.

The entity recorded net earnings of Rs. 130.6 million (+82.0% YoY) during FY25, largely due to the rise in revenue by 15.8 percent YoY. Despite the volatilities in raw material costs, which lead to challenges in pricing strategies and thin profit margins, the company’s revenue was driven by higher production volumes from new orders across the group, a report by First Capital said.

JF Packaging Limited, established in 1987 as a family-owned business, evolved into a premier flexible packaging solutions company in Sri Lanka. In 2017, the company became a fully owned subsidiary of Lankem Ceylon PLC, which is a diversified chemicals, paints and consumer goods manufacturing company in Sri Lanka. 

JF Packaging primarily focuses on producing high-barrier, three-layer co-extruded polymer films for laminated packaging and serves both food and non-food industries.