Islamabad, Oct 2: BF Biosciences IPO Subscription Begins Octo 2
BF Biosciences IPO is set to offer 6.25 million shares to the general public as part of its IPO on October 2nd and 3rd, 2024, at a strike price of Rs. 77 per share, representing 25% of the total offer size.
The subscription window will be open during banking hours from 9:00 AM to 5:00 PM, while the e-IPO option will be available 24/7.
The IPO’s book-building phase concluded successfully, with an oversubscription of 3.4 times. Institutional investors and high-net-worth individuals responded enthusiastically, pushing the strike price 40% higher than the floor price of Rs. 55, raising Rs. 1.93 billion.
Shahid Ali, CEO of Arif Habib Limited, emphasized that this IPO presents a strong opportunity for retail investors to enter a fundamentally robust company at an attractive valuation compared to the broader pharmaceutical sector, offering potential for significant growth.
Shahid Ali, CEO of Arif Habib Limited, the lead manager and book runner for the issue, expressed satisfaction with the response.
“The IPO received an exceptional response, with impressive participation of Rs4.7 billion. This is a significant milestone, as it’s been a long time since an IPO has garnered such overwhelming interest, achieving a 3.4x oversubscription and a 40% premium over its floor price,” he said.
