BF Biosciences Limited (BFBIO): IPO New Diabetes Business, a Game Changer : Subscribe – By Sherman Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We advise investors to Subscribe IPO of BF Biosciences (BFBL) at a floor price of Rs55 per share which is offering potential upside of 87% to our target price of Rs103.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">This is the first pharma company to be listed at PSX after a gap of 3 years. Historically we have seen pharma companies oversubscribing by 1.7x due to robust revenue growth potential.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">BFBL is planning to raise Rs1.4bn from IPO proceeds by offering additional 25mn shares which will be utilized mainly for process efficiency, working capital requirement and Research &amp; Development (R&amp;D...