Barkat Frisian Agro Limited, a joint venture between the Netherlands-based Frisian Egg Group and Pakistan’s Buksh Group, is set to raise up to Rs1.23 billion through an initial public offering (IPO) on the Pakistan Stock Exchange (PSX). The book-building process will take place on February 17 and 18, followed by the public subscription on February 24 and 25.
The Securities and Exchange Commission of Pakistan (SECP) and PSX have approved the prospectus, paving the way for the listing. Arif Habib Limited, the lead manager and book runner for the IPO, confirmed the approval. The company plans to sell 67.7 million ordinary shares, with a floor price of Rs13 per share, through a 100% book-building process.
Barkat Frisian Agro is Pakistan’s largest producer of pasteurized egg products, supplying liquid eggs, egg whites, egg yolks, and customized egg-based solutions to food manufacturers. The company currently operates a production facility in Karachi and plans to use the IPO proceeds to establish a new state-of-the-art plant in the Special Economic Zone of Faisalabad.
The new facility will increase the company’s annual pasteurized egg production capacity by 71%, from 17,000 tons to 29,000 tons, catering to rising domestic and international demand. CEO Muhammad Adil stated that the expansion is crucial as Pakistan’s food processing industry increasingly shifts towards processed and pasteurized eggs for quality and safety compliance.
As per IPO terms, institutional and high-net-worth investors can bid for 100% of the offered shares during book-building. However, only 75% of the issue (50.8 million shares) will be provisionally allotted to them, while the remaining 25% (16.9 million shares) will be offered to retail investors in the public subscription phase. The final strike price will be determined at the level where the issue is fully subscribed.
With growing demand in the food industry and rising export potential, Barkat Frisian Agro’s IPO marks a significant milestone in Pakistan’s agricultural and food processing sector.
