The Kassim family-owned Expack Corrugated Cartons, Sri Lanka’s largest corrugated carton manufacturer recently submitted its listing application to the Colombo Stock Exchange and plans to offer a 25% stake in the company via an Initial Public Offering (IPO)
Via the IPO the company plans to raise LKR 700 million by offering a 25% stake in the company. The 25% stake will consist of 83.3 million ordinary voting shares which will be priced at LKR 8.40 per share. The IPO which is will most likely take place on the 3rd week of October will offer prospective investors a 32% upside through the discounted cash flow (DCF) valuation. Capital Alliance Ltd and Asia Securities will act as the joint financial managers of the IPO.
Expack is also the largest corrugated carton manufacturer of Maldives and has a strong presence in Qatar, India, Australia, United States, Madagascar, Seychelles, and Reunion Island. The family-owned business was specifically selected to construct 12.350 ballots boxes for the 2020 Sri Lankan General Elections.
No.820, Mount Cresent,Malabe,Sri Lanka