Barkat Frisian Agro opens IPO book-building phase today

February 17, 2025 (MLN): Barkat Frisian Agro, Pakistan’s sole manufacturer of pasteurized egg products, is set to open its IPO’s book-building phase today, February 17th.

The book-building process will run through February 18th, with high-net-worth individuals (HNIs) and institutional investors able to subscribe to 100% of the issue size.

However, only 75% of the issue, amounting to 50.8 million shares, will be provisionally allotted to successful bidders during the process.

The remaining 25%, or 16.93mn shares, will be offered to retail investors through the general public subscription, which will take place on February 24th and 25th.

The IPO is being launched at a floor price of Rs13 per share, with the potential for the strike price to rise by Rs18.20 based on the interest received during the book-building phase.

This increase could help the company raise up to Rs1.23 billion through the sale of 67.73mn ordinary shares, as per the press release.

Arif Habib Limited is acting as the lead manager and book runner for the IPO.

Barkat Frisian Agro plans to use the funds raised from this IPO to build a state-of-the-art production facility at the Special Economic Zone of Faisalabad.

The new plant will increase the company’s production capacity by 71%, growing its annual pasteurized egg output from 17,000 tons to 29,000 tons.

This expansion aims to meet the rising demand from both domestic and international customers.

Copyright Mettis Link News