Markets

Wahdat Poultry IPO: Pakistan’s egg supplier goes public

The company is planning to list on the exchange, aiming to raise PKR 600 million to fund pasteurization capacity, working capital, and expansion through a rental-based model

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Shahbaz Ashraf

Business Consultant

Seasoned Investment Professional | CFA | 17+ Years of Experience in Equity Research, Valuation & Advisory Seasoned investment professional with over 17 years of experience in equity research, financial analysis, valuations, and investment advisory—primarily focused on financial services firms, including equity brokerages, asset management companies, and family offices. Skilled in financial modeling, portfolio management, and evaluating multi-asset investment opportunities. Known for delivering data-driven insights and actionable strategies tailored to both institutional and private clients. Holds a BBA and MBA in Finance from the Institute of Business Management (IoBM), Karachi, and is a Chartered Financial Analyst (CFA).

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Wahdat Poultry Farms Limited is planning to list on the exchange, aiming to raise PKR 600 million to fund pasteurization capacity, working capital, and expansion through a rental-based model. The company intends to issue 50 million shares at PKR 12/share.

Based on the food sector’s weighted average, valuations typically trade at a PER of 20-23x. However, the closest listed peer, Barkat Frisan Limited (BFAGRO), is currently trading at a trailing PER of ~9x. In comparison, Wahdat’s IPO price implies a PER of ~12x, positioning it at a premium to peers but still below broader sector multiples.

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