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ISLAMABAD, Mar 7 (APP): The Pakistan Stock Exchange (PSX) on Friday celebrated the successful listing of Barkat Frisian Agro Limited (BFAL) with a prestigious Gong Ceremony in Karachi.
According to press release received here, the event was attended by key stakeholders, including Dr. Shamshad Akhtar, Chairperson of PSX, Farrukh H. Sabzwari, MD & CEO of PSX, Muhammad Adil Ali, Founder & CEO of Barkat Frisian Agro Limited, 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, the statement said adding, 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, she added.
“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,” she said.
She extended 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, highlighted the importance of poultry sector for the nation’s economy.
He said, 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.
On the occasion, CEO of Barkat Frisian Agro Limited (BFAL), Muhammad Adil Ali, expressed gratitude to investors and stakeholders for their trust and support. Shahid Ali Habib CEO Arif Habib Ltd also spoke on the occasion and said that it was exciting to see the IPO of Barkat Frisian Agro Limited achieve a historic oversubscription of 16.2x.
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.