The book-building phase for the BF Biosciences IPO will be held on September 25th and 26th. High-net-worth individuals and institutional investors will subscribe to 100 percent of the issue size. BF Biosciences, a leader in the biotech pharmaceuticals sector in Pakistan, is set to raise between Rs1.38 and Rs1.93 billion to expand its key product lines and obtain export certifications.

The floor price for the issue has been set at Rs55 per share through a 100 per cent book-building process.

The unsubscribed shares of the general subscription portion would be allocated to the successful bidders of the book-building portion on a pro-rata basis. The issuer will utilize any additional funds raised above the floor price to manage its additional requirements for capex and working capital.

BF Biosciences has estimated that the maximum strike price for the IPO may climb to Rs77 per share, increasing the funds raised to Rs1.93 billion.

This strategic initiative is expected to drive significant growth in both the company’s top line and profitability. The company has already completed a brownfield expansion, and the IPO will also help the company manage the working capital needs of the aforesaid expansion.

Arif Habib Limited has been appointed lead manager and book runner for the issue.