Wahadat Poultry doesn’t want to put all its eggs in one basket

The recent interest and activity in Initial Public Offering (IPO) has meant that new companies are being listed on a regular basis. The new spurt of activity has meant that there are many companies which are seeking to get listed which might be considered unconventional. One such company that was listed was Barkat Frisian which is involved in manufacturing of egg related products which act as raw material for food processing companies like English Biscuit Manufacturers and Ismail Industries. Now, Wahdat Poultry  wants to list itself on the stock exchange in order to gain access to investors. But how well are they placed to pull this off, and can their success be gauged from the success of the earlier IPO by Barkat Frisian?

The new kid on the block

There are certain ideas and concepts that have existed in the social fabric of a country like Pakistan for decades. The milkman coming around the houses on a bicycle or motorbike and ladelling out the milk into a container or the act of going to the local store and buying a pre-packaged dozen eggs. These are memories that are imprinted on the minds of many. As time moves on and things start to evolve, these ideas change. With the expansion of retail outlets and supermarkets, retail has become much more advanced and convenient. Similarly, the prepackaged plastic bag of eggs is now sold in egg cartons with a brand printed and enriched with nutrients.

Packaged eggs are an emerging segment in the country which relies heavily on loose eggs. Currently, packaged eggs make up 1.8% of the entire egg market. Wahadat Poultry is looking to change that. Holding a market share of 48%, the company wants to leverage its position and grow the portion of packaged eggs being sold.