Barkat Frisian Agro Limited, a joint venture between the Pharisee Egg Group based in the Netherlands and the Bochsh Group in Pakistan, is scheduled to reach 1.23 billion rupees through an initial general offer (IPO) on the Pakistani Stock Exchange (PSX). Books construction will take place on February 17 and 18, followed by public participation on February 24 and 25.
The Securities and Stock Exchange Committee in Pakistan (SECP) and PSX agreed to the release bulletin, which paves the way for listing. Arif Habib Limited, Director of Leadership and Municipality in Public subscription, confirmed approval. The company plans to sell 67.7 million ordinary shares, at a ground price of 13 rupees per share, through the process of building books by 100 %.
Barkat Frisian Agro is the largest product in Pakistan for pasteurized egg products, liquid egg supply, egg whites, egg yolk, and egg -based solutions for food manufacturers. The company is currently running a production facility in Karachi and plans to use the public subscription revenues to create a new factory on the latest model in the Special Economic Zone in Faisal Abad.
The new facility will increase the annual capacity of the company’s pasteurized egg production by 71 %, from 17,000 tons to 29,000 tons, which meets the increasing domestic and international demand needs. CEO Mohamed Adel stated that expansion is crucial because the food processing industry in Pakistan is increasingly turning towards processed and giving eggs in order to comply with quality and safety.
According to the terms of the public subscription, institutional and high investors in the high network can provide 100 % of the shares provided during the construction of books. However, only 75 % of the case (50.8 million shares) will be temporarily allocated, while 25 % (16.9 million shares) will be provided to retail investors in the public subscription phase. The final strike price will be determined at the level in which the problem is fully subscribed.
With the increasing demand in the food industry and the high export capabilities, the Parking General’s subscription represents a milestone in the agricultural and food processing sector in Pakistan.
