Connect with us

Pakistan

BF Biosciences to launch IPO to raise Rs1.37b | The Express Tribune

Published

on



KARACHI:

BF Biosciences Limited (BFBL) has applied for listing on the main board of the Pakistan Stock Exchange (PSX), seeking to raise a minimum of Rs1.37 billion by selling 25 million shares to institutional, high net worth, and individual investors, pending regulatory approval. The pharmaceutical company plans to use the funds to purchase new plant and machinery, expand its product range, introduce new medicines, improve working capital, and boost exports.

The shares are being offered at a minimum price of Rs55 per share, with the potential to rise by up to 40% to Rs77 per share during a two-day Dutch auction (book building) process. The final strike price will be determined during the auction, with dates to be announced later. Arif Habib Limited is the lead manager for the offer.

The company has uploaded its draft prospectus on the PSX website, inviting stakeholders to comment via email by August 15, 2024. According to the prospectus, the company aims to raise Rs1.37 billion to meet the growing demand for pharmaceutical products. The IPO proceeds will be used to finance the purchase of plant and machinery to expand the product range and improve efficiency, acquire export certifications such as PIC/S and SRA, develop new products including Glucagon-like Peptide (GLP1), and finance working capital requirements for purchasing raw and packing materials.

The company plans to target PIC/S certification soon after commencing Line II operations and will “aggressively” explore export markets. BFBL is actively pursuing new registrations and plans to initiate exports to non-PIC/S countries.

BFBL reported net revenue of Rs2.91 billion for the first three quarters (July 2023 to March 2024) of its current fiscal year, compared to Rs1.80 billion for the entire previous year (2022-23). Profit after tax was Rs314 million for the nine months, compared to Rs149 million for the previous year.

The prospectus highlights several risks to the business, including macroeconomic factors such as exchange rate fluctuations, interest rates, inflation, and energy price hikes, which cannot be directly passed on to consumers. Exchange rate volatility impacts raw material costs, high interest rates increase finance costs, and inflation raises factory overheads, administrative expenses, and selling costs. Energy price hikes also affect overheads, though the plant has access to 1 MW of solar generation capacity from its parent company, in addition to the national grid and backup diesel generators.

Other risks include potential delays in registering new products with the Drug Regulatory Authority of Pakistan (DRAP), which could hamper product launches. The prevalence of counterfeit pharmaceutical products is also a significant threat to the industry and public health.

The entire issue of 25 million shares will be offered through the book building method, with bidders allowed to place bids for 100% of the issue size. The strike price will be the price at which 100% of the issue is subscribed. Successful bidders will be provisionally allotted 75% of the issue size (18.75 million shares), with the remaining 25% (6.25 million shares) offered to retail investors through a general public portion.

Pakistan

Honda CD70 Dream Latest Price, Installment Plans – Sep 2024 Update – Pakistan Observer

Published

on

By


Honda remains leader in bikes market, with its top-selling units like CD 70, and that’s without making any major changes as the entry-level bikes look almost same for a long time. As the CD-70 remains its most selling model, bikes like the CD-70 Dream and Pridor are considered a niche products.

Despite failing to achieve top sales, CD 70 Dream is still in the market, featuring air-cooled, 4-stroke engine that delivers smooth performance and impressive fuel economy, often averaging around 60-70 km/l, making it ideal for daily commuting.

The bike looks better with stylish and modern design with attractive graphics, as compared to simple CD70. People also like its comfort as built quality remains optimum, comparing to other players.

Its pricing makes it accessible to a wide audience, including students and working professionals, solidifying its status as a favorite among motorcycle enthusiasts in Pakistan.

As bikes prices remain out of hands, people are having hard time to upgrade their ride while companies also face low sales.

Honda CD 70 Dream Price

The price of Honda CD70 Dream is Rs168,900 in September 2024.

Honda CD 70 Dream Installments

Installment Plans Monthly Payments 
3 months Rs56,300
6 months Rs28,300
9 months Rs21,890
12 months Rs17,200
24 months Rs10,170
36 months Rs7,800

 

You may like to read our these stories

Yamaha Bikes Latest Price in Pakistan May Update

Continue Reading

Pakistan

Check Property Ownership in Lahore, other Punjab cities Online – Pakistan Observer

Published

on

By


If you live in Lahore or any other city in Punjab; you might have faced difficulties in getting land record in previous years, but now the government made the land verification process smooth with digitization.

To curb the menace of land mafia and to help residents of Punjab, the government rolled out a systematic process and also eased the process of property transfers and real estate transactions.

A new verification system is Live by provincial authorities to check the legitimacy of properties available for purchase or investment across the region of 110 million people.

The relevant authority in this regard is Punjab Land Record Authority which oversees management and maintenance of land records. You can get different services, including ability to search for and view land records, as well as request copies of documents.

Check Property Ownership Online 2024

Here’s Step by Step Guide To Check property ownership

Step 1: Please visit PLRA portal at Punjab-zameen.gov.pk.

Step 2: Find ‘Property Registration,’ on home and click on https://rodportal.punjab-zameen.gov.pk/.

Step 3: It will ask you to select your district and service center.

Step 4: You can search by different options including Bahi number, ID card, registration number, or by person name.

Step 5: After entering details, please advance to ‘Search’ to get the land ownership.

With latest updates, you can check data on number of property transfers in last 36 months.

Beware of These Illegal Housing Societies in Lahore – September 2024 Update

Continue Reading

Pakistan

Suzuki Bolan discontinued in Pakistan after 36 years; Here’s replacement for ‘Carry Dabba’ – Pakistan Observer

Published

on

By


LAHORE – Finally, it’s time to say goodbye to the iconic Suzuki Bolan as Pak Suzuki pulled plugs to replace the minivan with another model. Over the last 3.5 decades, Suzuki Bolan enjoyed decent sales and was valued for its flexibility, serving a multi-passenger vehicle and for commercial purposes.

Amid shift in auto landscape in Pakistan, Bolan becomes latest drive to be discontinued after Suzuki Mehran, which you can still spot.

Pictures of Suzuki Bolan’s last batch surfaced online, and Pakistanis hit nostalgia as many grew up in this vehicle. The final chassis number marked as 01151691. The country’s oldest automaker and maker of Bolan also confirmed discontinuation of the 800cc Carry Dabba.

The company decided to replace Bolan for its outdated design and lack of safety features. Amid its low sales, consumer demand for a modern replacement like Changan Karvaan increased.

Suzuki Every to Replace Bolan

Suzuki earlier mentioned that Every will replace Bolan, and one of its recent model was unveiled at a recent auto show.

The launch of Every models faced delays due to import challenges and it is expected to launch in mid October.

Suzuki Bolan Price in Pakistan

 

Continue Reading

Pakistan

Gold prices reach historic high in Pakistan – Pakistan Observer

Published

on

By


Your source for latest Pakistan, world news. Stay updated on politics, business, sports, lifestyle, CPEC, and breaking news. Accurate, timely, and comprehensive coverage.

Continue Reading

Trending