In a first, Pakistani corporate dairy farm to make $8.9 million market debut next month

A man works at a cattle farm in Sukheki, located in Punjab province, August 15, 2012. (Reuters/File)
Short Url
Updated 27 January 2026
Follow

In a first, Pakistani corporate dairy farm to make $8.9 million market debut next month

  • Ghani Dairies to issue 104.2 million new shares, with most offered via book building
  • Company supplies milk to large processors including Nestlé Pakistan and Fauji Foods

KARACHI: Ghani Dairies Limited, a Pakistani corporate dairy farming company, plans to raise about Rs 2.5 billion ($8.9 million) through an initial public offering, in what would be the country’s first listing by a large-scale, automated dairy farm, its advisers said on Tuesday.

The company will issue 104.2 million new shares, representing 24.28 percent of its post-IPO paid-up capital, with 75 percent of the offering allocated through book building and the remainder offered to retail investors, according to a statement by JS Global Capital, the consultant to the issue.

The floor price has been set at Rs 24 per share, and the issue will be fully underwritten.

“This is not just a dairy farm, but a vision for Pakistan’s dairy future,” said Hafiz Avais Ghani, chief executive officer of Ghani Dairies, adding that the company aimed to expand capacity to better serve industrial clients and the broader market.

Ghani Dairies operates a fully automated dairy farm using imported high-yielding cattle and digital herd-management systems, supplying milk primarily to large food and dairy processors.

Its expansion plan includes the import of 1,250 dairy cows, construction of additional milking and heifer sheds, storage facilities and the installation of modern feeding and milking systems.

The company’s customers include Nestlé Pakistan, IRC Dairy, and Fauji Foods, according to the statement.

Khalil Usmani, chief executive of JS Global Capital, said the IPO would give investors exposure to a modern, corporate dairy operation at a time when demand for higher-quality milk and value-added dairy products was rising.

Book building for the offering is scheduled for Feb. 2–3, with the public offering expected to follow on Feb. 9–10, the statement said.


Pakistani migrant’s death in UAE shatters economic future of families back home

Updated 11 sec ago
Follow

Pakistani migrant’s death in UAE shatters economic future of families back home

  • Pakistani driver killed by falling debris during missile interception in Abu Dhabi amid escalating Middle East conflict
  • Death leaves more than a dozen dependents in Pakistan without income after eight years of overseas work

ISLAMABAD: For days, Nazar Ali told his daughter-in-law a gentle lie: authorities in the United Arab Emirates (UAE) had confiscated all mobile phones and her husband, Mureeb Zaman, would call home as soon as he got it back.

In reality, Zaman, a 40-year-old Pakistani driver who had spent eight years working in the UAE to lift his family out of poverty, had already been killed by missile fragments during an aerial interception over Abu Dhabi amid an escalating conflict in the Middle East.

The conflict began on Feb. 28 after the United States and Israel launched strikes on Iran following weeks of escalating tensions between Tehran and its regional adversaries. The attacks triggered retaliatory drone and missile strikes by Iran targeting commercial and US-linked interests across the Gulf region, prompting air defense systems in several countries to intercept projectiles in the skies above major cities.

As interceptors met incoming missiles over the Emirati capital that night, falling debris struck Zaman, ending years of work he hoped would secure a better future for his five children in one of Pakistan’s most volatile regions.

“I found out the same day because nowadays it is the age of the Internet,” Ali, Zaman’s father, told Arab News during a condolence gathering at his residence last week.

“I myself was in the market at that time when I received the news [of his death], but I did not tell the family.”

Zaman had been supporting three households in his hometown in Pakistan’s northwestern Bannu district, including the family of his late younger brother. The region, located in the province of Khyber Pakhtunkhwa near the Afghan border, has witnessed a surge in militancy and counterinsurgency operations in recent years.

The 40-year-old was one of millions of Pakistani migrant workers in Gulf countries whose remittances are a vital source of foreign exchange for Pakistan’s fragile economy.

He is also among the first reported Pakistani casualties of the recent escalation. Two Pakistani nationals have been killed so far in aerial interceptions in the UAE, while another Pakistani died last week in a similar incident in Iranian waters off Pakistan’s southwestern Balochistan province, according to authorities.

Zaman’s life abroad was measured in long-distance phone calls and carefully saved earnings, while his wife, four daughters and one son lived in a single room at their family home in Bannu.

“He used to say that ‘When I come on Eid, God willing, I will build a room for you’,” Ali, his grieving father, said.

For Zaman, working in the UAE represented an escape from the insecurity and economic hardship that have long plagued his hometown, where militant attacks targeting security forces and civilians have periodically disrupted daily life.

Family members said he had hoped to return home for the upcoming Eid Al-Fitr holiday, encouraged by military operations against militant groups in Khyber Pakhtunkhwa that had raised hopes of greater stability in the region.

Adnan Gul, Zaman’s nephew, remembered his uncle as a warm and optimistic man who often spoke about building a better future for his family.

“His wish was to have a good home, a settled family, and a good, peaceful life,” Gul said.

Recalling Zaman as a cheerful man who loved food and rarely lost his temper, Gul added: “With younger people he behaved like one of them, and with elders he behaved like an elder.”

“He had many wishes, but unfortunately all those wishes remained unfulfilled.”

Now, Zaman’s death has left his extended family facing an uncertain future.

Relatives fear the loss of his income could disrupt the education of his children, who attend school while also memorizing the Holy Qur’an.

“He used to say these things and tell me ‘Not to tire yourself too much because you have already done a lot of hard work’,” Ali, his father, said, his voice trailing off.

“But such a day came that Allah Almighty once again left us [helpless], and we don’t know what will happen next.”

Buried in his hometown, Zaman is remembered through the photographs he shared with family members on WhatsApp and the Eid gifts he had already purchased before his death.

“When a person leaves this world, only memories remain,” Gul said.