BF Biosciences to launch IPO to raise Rs1.37b

BF Biosciences Limited (BFBL) has applied for listing on the main board of the Pakistan Stock Exchange (PSX), seeking to raise a minimum of Rs1.37 billion by selling 25 million shares to institutional, high net worth, and individual investors, pending regulatory approval. The pharmaceutical company plans to use the funds to purchase new plant and machinery, expand its product range, introduce new medicines, improve working capital, and boost exports. The shares are being offered at a minimum price of Rs55 per share, with the potential to rise by up to 40% to Rs77 per share during a two-day Dutch auction (book building) process. The final strike price will be determined during the auction, with dates to be announced later. Arif Habib Limited is the lead manager for the offer.