Barkat Frisian Agro Limited, a joint venture between the Netherlands-based Frisian Egg Group and Pakistan’s Buksh Group, saw its share price reach the maximum limit of Rs18.20 per share on the first day of its Dutch auction at the Pakistan Stock Exchange (PSX) on Monday. The company successfully raised Rs1.23 billion by selling 67.74 million shares, exceeding its initial target of Rs880 million.
This marks the second initial public offering (IPO) of 2025, following Zarea Limited’s listing last week, which raised Rs1.03 billion through the sale of 62.5 million shares.
Barkat Frisian began its book-building process at a floor price of Rs13 per share. The strong demand pushed the share price up by 40% to Rs18.20, the maximum limit allowed, according to Shahid Ali Habib, CEO of Arif Habib Limited (AHL), the lead manager and book runner for the IPO.
The offering was oversubscribed 4.77 times in value terms, attracting bids worth Rs4.2 billion against the minimum target of Rs880 million. Despite selling all allotted shares at the highest possible price, PSX will proceed with the second day of the book-building process on Tuesday.
Founded in 2017, Barkat Frisian Agro Limited specializes in producing high-quality pasteurized egg products, including whole eggs, yolks, whites, and derivatives. Its key markets include the HoReCa (hotel, restaurant, and café) sector, the sauce and mayonnaise industry, and the baking and confectionery segment.
According to AHL, the funds raised from the IPO will be used to set up a new production facility in Faisalabad, expanding the company’s manufacturing capabilities to meet growing demand.
