BF Biosciences Limited

Description of Transaction:

• Arif Habib Limited (AHL) acted as the Lead Manager and Book Runner for the IPO of BF Biosciences Limited, successfully raising PKR 1,925 million for the company.
• The total offer size was PKR 1,375 million, however, the IPO received bids totalling PKR 4,670 million, resulting in an oversubscription of 3.4x.
• The strike price was set at PKR 77.00/share.

About the Issuer:

• The Company's core operations involve the import, manufacturing, marketing and distribution of pharmaceutical product
• BF Biosciences Limited is an 80:20 joint venture between Ferozsons Laboratories Limited and the Bagó Group of Argentina
• BF Biosciences Limited has led Pakistan's emergence in the field of biotech manufacturing, driving the country into the exclusive ranks of biotech pharmaceutical exporters, particularly during the COVID-19 pandemic
• The company operates a state-of-the-art biotech manufacturing facility located at 5 KM, Sunder Raiwind Road, Lahore.