News Desk
KARACHI: The Pakistan Stock Exchange (PSX) celebrated the successful listing of Barkat Frisian Agro Limited (BFAL) with a prestigious Gong Ceremony. The event was attended by key stakeholders, including Dr. Shamshad Akhtar, Chairperson of PSX, Mr. Farrukh H. Sabzwari, MD & CEO of PSX, Mr. Muhammad Adil Ali, Founder & CEO of Barkat Frisian Agro Limited, Mr. Shahid Ali Habib, CEO Arif Habib Ltd, Directors of PSX and BFAL, senior management and representatives of BFAL, market participants, and distinguished guests from the corporate sector.
Barkat Frisian Agro Limited, a joint venture between the Netherlands-based Frisian Egg Group and Pakistan’s Buksh Group, specializes in the production of pasteurized eggs. The company’s Initial Public Offering (IPO) concluded with an impressive oversubscription of 16.25 times, reflecting strong investor confidence in its vision and growth potential.
With its successful listing on PSX, Barkat Frisian Agro Limited aims to expand its operations, increase productivity, and contribute to the development of Pakistan’s poultry sector. This milestone not only underscores the company’s commitment to innovation and quality but also highlights the growing interest in agribusiness investments within Pakistan’s capital market.
Speaking on the occasion, Chairperson PSX, Dr. Shamshad Akhtar, particularly appreciated Shahid Habib for his support in structuring and bringing to listing the issue. Shahid Habib is well recognized for his investment management and research competence. Investor participation and financial inclusion are key drivers of market growth, and this IPO has been a significant step in that direction.
“I commend Mr. Adil (Founder & CEO of Barkat Frisian Agro Ltd) for pioneering the pasteurized egg market and successfully breaking new ground, crossing borders, and paving the way for increased foreign exchange earnings for Pakistan. At PSX, we remain committed to broadening investor participation and making inroads into new sectors.”
“We extend our gratitude to the management, Securities & Exchange Commission of Pakistan (SECP), and all market participants for their contributions to the success of this IPO.”
Speaking on the occasion, Managing Director & CEO of PSX, Mr. Farrukh H Sabzwari, congratulated Barkat Frisian Agro Limited on its successful listing, highlighting the importance of poultry sector for the nation’s economy. He remarked, “At PSX, we strongly believe in the power of young entrepreneurs to drive innovation, economic growth, and market expansion. The successful listing of Barkat Frisian Agro Limited is a testament to this vision, as it is led by a dynamic young entrepreneur who has set an example for others to follow.
We congratulate Barkat Frisian Agro Limited on its successful IPO and welcome it to the Pakistan Stock Exchange. This achievement not only strengthens the capital markets but also paves the way for more young business leaders to take the helm and contribute to Pakistan’s economic progress.”
At the ceremony, CEO of Barkat Frisian Agro Limited (BFAL), Mr. Muhammad Adil Ali, expressed gratitude to investors and stakeholders for their trust and support. He stated, “We are thrilled to witness exceptional participation in Barkat Frisian Agro Limited’s Initial Public Offering (IPO), from a diverse investor base, which contributed to substantial oversubscription. The offering attracted a diverse pool of investors, including mutual funds, brokerage firms, financial institutions, development finance institutions (DFIs), and individual investors, underscoring broad-based confidence in the company’s vision and long-term potential. We founded Barkat Frisian Agro Limited to pioneer innovation in the agro food processing industry and lead transformative change. As the sole player and market leader in Pakistan’s pasteurized egg segment, we are honored by the overwhelming trust investors have placed in our capabilities and growth strategy.
“The remarkable 16.2 times oversubscription reflects strong confidence in our company’s ability to achieve groundbreaking results and further solidifies our position as an industry leader. Moreover, this IPO highlights the strength of Pakistan’s capital markets. Its outstanding success is expected to encourage a wave of future IPOs at the Pakistan Stock Exchange, further enriching the market landscape and expanding investment opportunities.”
“We are deeply grateful for the trust and support of our investors and remain committed to delivering long-term value for all stakeholders.”
Giving his remarks, Mr. Shahid Ali Habib CEO Arif Habib Ltd said, “We are excited to see the IPO of Barkat Frisian Agro Limited achieve a historic oversubscription of 16.2x. With total demand reaching PKR 15.5 billion and participation from 8,500 investors, it stands among the highest investor turnouts for any IPO in Pakistan. The offering attracted a diverse mix of institutional investors, mutual funds, insurance companies, banks, family offices, corporate investors, and a significant number of individual investors. On its first day of listing, the stock surged 10%, marking the highest first-day gain for any IPO since the book-building process began in 2010. As the first consumer-sector IPO in five years, it also secured the maximum 40% premium in bidding, reflecting strong investor confidence. This success sets a new benchmark and is expected to open doors for more IPOs at the Pakistan Stock Exchange, further enriching the capital market landscape.”
The listing of Barkat Frisian Agro Ltd underscores PSX’s role in facilitating businesses to raise funds and achieve long-term sustainability through the capital market.
The Gong Ceremony with the symbolic ringing of the bell, signified the commencement of trading in Barkat Frisian’s shares on PSX. This milestone marks the beginning of a new chapter for Barkat Frisian Agro Limited & its investors.
