Islamabad, Sep 25: BF Biosciences is gearing up for its Initial Public Offering (IPO), with the book-building phase scheduled for 25th and 26th September.
During this phase, high-net-worth individuals and institutional investors will subscribe to 100% of the issue size, aiming to raise between Rs. 1.38 billion and Rs. 1.93 billion.
The floor price for the IPO has been set at Rs. 55 per share, with a potential maximum strike price of Rs. 77 per share, which could bring the total raised to Rs. 1.93 billion.
BF Biosciences, a leading player in biotech pharmaceuticals in Pakistan, plans to use the funds to expand its product lines and secure export certifications.
Unsubscribed shares from the general subscription portion will be allocated to successful bidders from the book-building phase. Arif Habib Limited is the lead manager and book runner for the IPO.
This initiative is expected to significantly boost the company’s growth and profitability, as it has already completed a brownfield expansion and plans to use the funds for capex and working capital needs.
