Wednesday, January 28 2026

Packages Limited approves redemption of 2mn IFC preference shares
Packages Limited (PKGS), Pakistan’s largest paper and board producer, said on Wednesday that it had approved the redemption of 2,000,000 preference shares/convertible stock held by the International Finance Corporation (IFC), based in Washington D.C., as requested by IFC. The listed company disclosed development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. A redemption notice is a notification informing investors that an issuer is exercising its right to redeem preferred shares before their maturity date. “The Board has also authorised the Chief Executive Officer and the Chief Financial Officer of the company to negotiate such redemption price with IFC and to fix the same with mutual consent,” the listed company shared. It said that currently, there were 8,186,842 preference shares/convertible stock outstanding, which were issued to IFC under the Subscription Agreement dated 25 March 2009.
Related news categories: business economic-indicators misc paper-bond psx stock-exchanges
Related symbols: pkgs (news stock)

Monday, January 26 2026

IFC moves to redeem part of its stake in Pakistan’s Packages Limited
Packages Limited (PKGS), Pakistan’s largest paper and board producer, has informed its stakeholders that it has received a redemption notice from the International Finance Corporation (IFC), a member of the World Bank Group, for a portion of its outstanding preference shares. The listed company disclosed development in a notice to the Pakistan Stock Exchange (PSX) on Monday. “Packages Limited has received a redemption notice dated 23 January 2026 from International Finance Corporation, Washington D.C., USA. (IFC) to redeem 2 million preference shares/convertible stock out of the outstanding 8,186,842 preference shares/convertible stock issued to IFC under the subscription agreement with IFC dated 25 March 2009,” read the notice.
Related news categories: business economic-indicators misc paper-bond psx stock-exchanges
Related symbols: pkgs (news stock)