BF Biosciences Limited (BFBL), a prominent pharmaceutical company in Pakistan, is preparing for an initial public offering (IPO) on the Pakistan Stock Exchange (PSX). The company aims to raise approximately Rs1.375 billion ($4.94 million) by issuing 25 million shares at a floor price of Rs55 per share.
Arif Habib Limited has been appointed as the lead manager and consultant for the IPO. BFBL plans to offer 28.30% of its post-IPO paid-up capital through this offering, with 75% of the shares allocated to successful bidders in a book-building process, and the remaining 25% available to retail investors.
The proceeds from the IPO will be used for expanding product range, improving operational efficiency, acquiring export certifications, and financing working capital needs. BFBL, a joint venture between Ferozsons Laboratories and Argentina’s Bagó Group, is known for its innovative hepatitis treatments and has also manufactured Remdesivir during the COVID-19 pandemic.
Despite the rarity of IPOs in Pakistan, with fewer than 20 companies listed on the PSX in the last five years, BFBL’s IPO marks a significant event for the local financial market.
