Barkat Frisian to go public with Rs1.2bn offering

Barkat Frisian Agro Ltd, a collaboration between the Frisian Egg Group from the Netherlands and Pakistan’s Buksh Group, has disclosed its intention to raise a substantial amount through an initial public offering (IPO) to create a modern production facility at Faisalabad’s Special Economic Zone. Both the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX) have granted approval for the IPO, including the publication of the prospectus and the schedule for book building and public subscriptions. Shahid Ali Habib, the CEO of Arif Habib Ltd, who is overseeing the IPO, confirmed these details. The company aims to gather around Rs1.23bn by offering 67,735,000 ordinary shares. The book building phase is scheduled for February 17 and 18, followed by public subscriptions on February 24 and 25.

According to Mr. Shahid, Barkat Frisian Agro is known for being the largest producer of pasteurized egg products in Pakistan. The company intends to sell shares at a minimum price of Rs13 each using a 100% book building strategy. Currently, the company operates a manufacturing plant in Karachi, the commercial hub of Pakistan. Through the new facility, the production capacity for pasteurized eggs is expected to rise by 71%, reaching 29,000 tonnes annually compared to the current 17,000 tonnes. This expansion is a significant development for Barkat Frisian Agro, enabling them to meet the increasing demand for their products.

The decision to go public through an IPO reflects Barkat Frisian Agro’s strategic approach towards expanding its operations and enhancing its production capabilities. The move to establish a cutting-edge facility in Faisalabad demonstrates the company’s commitment to growth and innovation in the competitive food industry. By leveraging the resources and expertise of both the Frisian Egg Group and Buksh Group, Barkat Frisian Agro is poised to strengthen its position in the market and cater to a wider customer base. The emphasis on quality and efficiency in production underscores the company’s dedication to providing top-tier products to consumers across the country.

With the book building process set to commence soon, investors and stakeholders will have the opportunity to participate in the growth of Barkat Frisian Agro. The IPO presents a chance for individuals and institutions to support the company’s expansion plans and be a part of its success story. As Barkat Frisian Agro embarks on this new phase of development, the establishment of the state-of-the-art production facility signals a bright future ahead for the company and the industry as a whole.