July 31, 2026 (MLN): International Packaging Films Limited (PSX: IPAK) is setting up a new subsidiary in Portugal through IPAK Connect Packaging Materials Trading FZCO, its wholly owned subsidiary based in Dubai, United Arab Emirates.
IPAK Connect has resolved to incorporate a wholly owned subsidiary in Portugal, subject to obtaining the necessary legal, regulatory, and corporate approvals.
Once incorporated, the Portuguese entity will be fully owned by IPAK Connect, making it an indirect wholly owned subsidiary of the Company within the IPAK Group, the on PSX revealed today.
The new subsidiary aims to enhance the Group's commercial presence in Europe, promote closer engagement with customers, strengthen marketing and distribution efforts, and support the Group's future expansion into European markets.
The Company will keep the Exchange updated on any significant developments related to this matter.