Ex-Pack Ready To Expand With Funds From IPO 
Posted 15,October

By Chaveendra Dunuwille

In Local News

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Ex-Pack Corrugated Cartons Ltd. is Sri Lanka’s leading carton producer responsible for one out of five cartons manufactured, expressed their confidence in their upcoming Initial Public Offering (IPO). 

The IPO, which will open on the 22nd of October, 2021, plans to raise LKR 700 million by offering a 25% stake (83.3 million shares) in the company, with each share being sold for LKR 8.40. 

The company plans to use the funds raised to finance an LKR 3 billion expansion, hoping to increase its production capacity from 2750 tons to over 4000 tons by 2025. To reach this goal, the company plans to build a state-of the-art production facility in a 10-acre land. They seek to complete construction in two phases, which will take between 11-13 months. The new plant will allow the company to accept orders between 250-300 tons which they have refused due to capacity constraints. The rest of the cost is to be funded by internally generated funds and debt funding. 

The IPO is to be managed by Capital Alliance Partners Ltd. & Asia Securities Advisors Ltd. The management is confident that the IPO will help usher in significant growth to the company.