BBFL Plans Rs1.5B Loan-to-Equity Conversion

LAHORE: Big Bird Foods Limited (BBFL) announced that its Board of Directors has reviewed a proposal to convert Rs1.5 billion in outstanding loans into equity.

In a filing with the Pakistan Stock Exchange (PSX) on Monday, the company disclosed that the loans were owed to directors. The proposal, put forward by the Chief Executive Officer, recommended issuing new shares at Rs49.42 per share, based on the average market price of the past three months, in place of loan repayment.

The board noted that, as the transaction involves directors, most members were classified as “interested directors” under the Companies Act, 2017, and were unable to make a decision on the matter. Consequently, the board resolved to present the proposal to shareholders for approval at a general meeting, as mandated by law.

Per its financial results, BBFL recorded a profit after tax of Rs1.17 billion in FY25, reflecting a 39% year-on-year increase.

In June, BBFL forged a strategic agreement with Alibaba Group, securing direct export access to Alibaba’s global B2B platforms, including Alibaba.com, to showcase and sell poultry and processed food products to buyers in over 190 countries.

Established in September 2011 as a poultry processing unit, BBFL transitioned to a public limited company on June 1, 2023.