Following a highly sought-after IPO, which witnessed an 11X oversubscription, Ex-Pack Corrugated Cartons Limited’s shares enjoyed solid gains on their first day of trading on the Colombo Stock Exchange. Opening trading at LKR 16/- per share, PACK recorded an intraday low of LKR 15.10/- before soaring to an intraday high of LKR 25/- per share early in the trading day. The counter witnessed active and broad-based interest, recording 13,799 trades with 75.834 million shares changing hands, resulting in a turnover of nearly LKR 1.4 billion. With the issue managed jointly by CAL and Asia Securities, PACK’s IPO price was LKR 8.40 per share and the counter closed trading at LKR 17.80 per share, netting investors a solid 112% gain on the first day of trading.