JF Packaging shares to commence trading as ‘JFP-N-0000’ on CSE

Following the successful conclusion of its heavily oversubscribed initial public offering (IPO), JF Packaging Limited announced that its shares would begin trading on the Main Board of the Colombo Stock Exchange (CSE) under the symbol ‘JFP-N-0000’. 
This milestone follows the completion of share allotments and fulfilment of all listing and regulatory requirements of the CSE and Securities and Exchange Commission of Sri Lanka. 
Trading is scheduled to commence on November 19.
The IPO, which opened on October 30, offered 51,724,144 ordinary voting shares, at an issue price of Rs.11.60 per share, seeking to raise Rs.600 million. The Issue was oversubscribed within hours, receiving total subscriptions worth Rs.3.78 billion, representing an oversubscription factor of 6.3 times.
JF Packaging Managing Director K.P. David said, “Becoming a publicly listed company marks an important milestone in our growth journey. We are extremely pleased to see our shares begin trading on the Colombo bourse and remain committed to delivering on our objectives while creating lasting value for all our stakeholders.”
The proceeds from the IPO will be used to settle selected term loans obtained from banking institutions and to partially settle the outstanding revolving import loans. These steps are expected to reduce finance costs, strengthen the balance sheet and enhance cash flows to support future growth. JF Packaging is a market leader in high-quality flexible packaging, supplying to top-tier brands including multinationals and leading FMCG brands. The company is also recognised as a leader in eco-friendly packaging solutions in Sri Lanka, introducing bio-based plastics, compostable materials and post-consumer recycled laminates.