Investors

Press Release

We are pleased to announce that a letter of credit has been opened for import of fish net manufacturing plant, comprising of three major machines. Shipment will be made inshallah before the end of December 2021 while arrival is expected within January 2022. Contact has also been awarded for construction of the production hall, to be completed well in time for installation and commissioning of the plant in February 2022.
As per plan, and in line with expected demand, initially the plant will run at 60 to 70% capacity.

Khalid Butt
Chief Executive PAPL

The Transaction

Pak Agro Packaging Limited (PAPL or the Company) is offering 8,000,000 ordinary shares, bearing face value of Rs 10 each, representing 40% of its post-placement paid-up capital of the Company, through placement under Rule 5A of PSX Listing Rules

The shares are being offered to eligible investors through a book building exercise to determine the strike Price.
The Company intends to raise funds for expansion and modernization of its manufacturing facilities and to meet additional working capital requirements.
The Company has recently acquired change of status from private limited to public limited. It plans to get listed at GEM Board of PSX.

Capital Structure

The authorized share capital of the company is Rs.400 million consisting of 40,000,000 shares of Rs 10 each.

As at 30 June 2021 company’s issued and paid-up share capital stands at Rs.120 million.
8,000,000 shares are being offered for subscription to eligible investors through GEM Board of PSX.
All its borrowings are for working capital needs.

Shareholding Details

The entire current paid-up share capital is held by three principal shareholders as
follows:

Dr. Safdar Ali Butt, 60%
Mr Khalid Butt (brother of Safdar Ali Butt), 30%
Mrs Kaisra Jabeen Butt (wife of Safdar Ali Butt), 10%

Group Affiliations

The Company is a stand-alone entity with no group affiliations. However, two of its directors are independent directors of Hi Tech Lubricants Ltd., a listed company.