Pak-Qatar Family Takaful aims to raise over Rs1bn via IPO next week

Pak-Qatar Family Takaful Limited (PQFTL) aims to attract investment in the range of Rs700 million to Rs1.05 billion through selling its 50 million shares to institutional, high net worth individual and retail investors at the Pakistan Stock Exchange (PSX) next week.

The Shariah-compliant family insurance firm would sell the shares through initial public offering (IPO). Under the process, the lead manager of the offer Arif Habib Limited (AHL) would conduct Dutch bidding (book building process) to determine a strike-price to sell the shares, according to press statement.

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The bidding would kick-start at a minimum price of Rs14 per share that can go up by a maximum 50% to Rs21 per share during the two-day book building process to be held at the PSX on December 11-12, 2025.

While talking to Business Recorder, AHL CEO Shahid Ali Habib said the Securities and Exchange Commission of Pakistan (SECP) had granted its approval to let the share price go up by a maximum of 50%, setting floor price at Rs14 per share and cap price at Rs21 per share for the Dutch bidding.

PQFTL is set to publish prospectus for the IPO shortly. The prospects would carry information related to opportunity and risk factors for the investors, detailed financial accounts, and outlook for the company.

Shahid Ali Habib further said proceeds from the IPO would help Pak-Qatar Family Takaful meet minimum capital requirements, expand its digital channels, and develop more customer-focused products.

The company, which has strong backing from Qatar’s financial sector, plans to use the proceeds to expand its operations and product offerings in Pakistan’s rapidly growing insurance market, according to Habib.

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Out of total 50 million shares, 75% (or 37.5 million) will be allotted through book building to institutional buyers whereas remaining 25% (12.5 million shares) will be issued to general public.

“Pak-Qatar Family Takaful holds a 44% market share of the family takaful (including Window takaful) sector and a 90.47% market share of the dedicated family takaful segment,” the statement reads.

In 2024, Pakistan’s insurance penetration remained low at 0.7%, though rising education and better economic conditions suggest strong future growth potential, according to the statement. “The global insurance industry has grown rapidly but unevenly, with advanced economies seeing over 10% penetration, while emerging markets in EMEA and Asia lag behind.”