Islamabad, Sep 11: BF Biosciences Limited plans to issue 28.3 percent additional shares through an Initial Public Offering (IPO) on September 25–26 in an effort to raise between Rs. 1.38 billion and Rs. 1.93 billion.
Osman Khalid Waheed, Director of BF Biosciences, stated during the pre-IPO investor roadshow in Karachi that the company is seeking to raise between Rs. 1.38 and 1.93 billion in order to expand its main product lines and secure export certifications. BF Biosciences is a prominent player in the Pakistani biotech pharmaceuticals industry.
Since the company has already completed a brownfield expansion, this strategic endeavor is expected to significantly increase both the company’s top line and profitability. Additionally, the IPO will assist the company in managing the working capital requirements of the previously completed expansion.
Ferozsons Laboratories, the parent business of BF Biosciences, is already well-established in the Far Eastern and Central Asian regions, which will be their main focus in the short- and medium-term.
