Advertisement
Categories: BusinessNewsPakistan

BF Biosciences Book Building Starts today

Advertisement

BF Biosciences IPO’s book building phase will be held on 25th and 26th September where high net worth individuals and institutional investors will subscribe to 100 per cent of the issue size.

BF Biosciences, a leader in the biotech pharmaceuticals sector in Pakistan, is set to raise between Rs1.38 and Rs1.93 billion to expand its key product lines and obtain export certifications.

The floor price for the issue has been set at Rs55 per share through a 100 percent book building process.

The unsubscribed shares, if any, of the general subscription portion would be allocated to the successful bidders of the book building portion on a pro-rata basis. The issuer will utilize any additional funds raised above the floor price in managing its additional requirements for capex and working capital needs.

BF Biosciences has estimated that the maximum strike price for the IPO may climb to Rs77 per share that would increase the funds raised to Rs1.93 billion.

This strategic initiative is expected to drive significant growth in both the company’s top line and profitability as company has already completed a brownfield expansion and IPO will also help the company to manage working capital needs of the aforesaid expansion.

Arif Habib Limited has been appointed as a lead manager and book runner to the issue.

Advertisement
News Desk

Recent Posts

Fatima Fertilizer’s Sarsabz Tabeer launches healthcare initiative in collaboration with MASH and the Government of Punjab

As part of its ongoing commitment to empower rural women and female farmers, Fatima Fertilizer,…

4 hours ago

Payoneer Hosted “Game Leaders Connect 2025” to Power Global Growth for Pakistan’s Gaming Industry

Payoneer (NASDAQ: PAYO), the global financial technology company powering business growth across borders, hosted Payoneer’s…

4 hours ago

foodpanda launches Pakistan’s first multi-brand dining destination, ‘The Commune’

foodpanda, Pakistan’s leading online delivery platform, has announced the grand opening of "The Commune by…

5 hours ago

Why Did Temu & AliExpress Prices Suddenly Increase in Pakistan?

Pakistani shoppers were left shocked this week as prices on popular e-commerce platforms Temu and…

5 hours ago

Petrol, Diesel Prices May Surge by Up to Rs15/Litre

The government is preparing to impose another steep increase in petroleum prices, dealing a fresh…

1 day ago

Sindh Bank selects PTCL to enhance Bank’s Digital Connectivity Infrastructure

Pakistan Telecommunication Company Limited (PTCL) and Sindh Bank have signed an agreement for deployment of…

1 day ago