Arif Habib Limited (PSX: AHL) informed today that the BF Biosciences Limited’s IPO will occur on October 2nd and 3rd, 2024.
Investors can subscribe through various banks or easily apply online via CDC and PSX’s e-IPO service.
The general public will have the opportunity to subscribe to 6.25 million shares (25% of the total offering) at a strike price of Rs77 per share. This price reflects the upper limit of the 40% price band, as determined during the Book Building process on September 25 and 26, 2024.
Bidding for BF Bio Sciences Limited IP started at a minimum price of Rs55 per share on Wednesday. Strong demand from institutional and high-net-worth individual investors drove the price up to Rs77 per share.
The IPO saw total participation of Rs4.67 billion against an issue size of Rs1.375 billion at the floor price, resulting in an oversubscription of 3.4 times.
BF Biosciences raised Rs1.93 billion in total, marking it as the first IPO in the Pharma sector for 2024.
A total of 241 investors participated in the Book Building for BF Biosciences Limited, with 185 investors successfully securing shares.
Arif Habib Limited, the lead manager and book runner for the BF Biosciences Limited IPO, has supplied a breakdown of successful investors by category:
Category wise Investors | Shares Allocated |
---|---|
Insurance Companies | 1,259,378 |
Commercial Banks | 2,718,864 |
Mutual Funds | 5,347,039 |
TREC Holders | 5,647,657 |
Provident/Pension Funds | 12,476 |
Other Institution/Corporates | 1,296,802 |
High Net Worth Individuals | 2,467,784 |
Total | 18,750,000 |