Barkat Frisian Agro Ltd, a Pakistani – Dutch Joint Venture Company, is planning an initial public offering next in January 2025, Bloomberg reported on Monday.
The company, Pakistan’s largest egg products manufacturer, is looking to raise as much as Rs. 1.2 billion ($4.3 million) through the offer, Bloomberg said quoting Shahid Ali Habib, chief executive officer at Arif Habib Ltd., lead manager and book runner for the transaction.
According to the report, the company intends to use the funds to develop its new production plant in Faisalabad’s special economic zone.
The company aims to increase its annual production capacity to 29,000 tons from 17,000 tons to meet rising demand from domestic and overseas customers. Currently, the company has a plant in Karachi.
Barkat Frisian Agro manufactures and sells pasteurized eggs, egg yolks, egg whites, and customized egg-based products tailored for food manufacturers.
Frisian Egg Group, the Dutch partner, has been producing egg products for over 3 decades and currently has production facilities in Netherlands, Egypt and China.
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