Barkes Fressian excessive public subscription 16.25 times, raising 1.23 billion rupees – Trendy Blogger

Barkes Fressian excessive public subscription 16.25 times, raising 1.23 billion rupees

 – Trendy Blogger

The process of building books for Freisian Aruis Barks Limited (BFAL) was concluded by the IPO with an increase in subscription 16.25 times, which represents a historical moment on the Pakistani Stock Exchange (PSX). The demand for investors reached 14.25 billion rupees, which significantly exceeds 1.23 billion rupees.

The public subscription attracted a strong participation of institutional investors and individuals with high value in the networks, as the strike price reached 18.2 rupees per share, which is the maximum of 40 % of the 13 % price of the shares per share. Public subscription BFAL makes the first pasteurized egg company to recount on PSX.

Arif Habib Limited (ahl) as a head manager and a book of book for public subscription.

According to a report issued by ARIF Habib Limited, a total of 707 investors participated in the Books Building Stage, of which 667 investors have successfully secured shares.

The largest allocations were provided to high -value individuals (HNWI), who were allocated 15.53 million shares, followed by joint investment funds (13.12 million shares), TREC holders (8.57 million shares), and others). Insurance companies received 2.66 million shares, while commercial banks and DFI received 2.12 million shares, and pension funds earned 934,782 shares.

Successful offers providers will be temporarily allocated 75 % of the shares, with a total of 50.8 million shares. The remaining 25 % (16.93 million shares) will be offered to retailers during the public subscription on February 24 and 25.

Public subscription revenues will be used to create a new production facility in the Special Economic Zone in Faisal Abad. The company is currently running a manufacturing factory in Karachi, plans for the company to increase its ability to produce eggs by 71 %, and expands from 17,000 tons to 29,000 tons annually with the new facility.

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