Pak-Qatar General Takaful eyes Rs420mn via IPO

Pak-Qatar General Takaful Limited (PQGTL), a Pak-Qatar Group company, is set to launch its initial public offering (IPO) next week to raise up to Rs420 million.

According to a statement, the book-building process is scheduled for January 21–22, with investor registration opening on January 16.

Under the current offering, PQGTL will issue 30 million shares, with a floor price of Rs10 per share and a ceiling price of Rs14 per share. Of the total offering, 22.5 million shares (75%) will be allocated to institutional investors, while 7.5 million shares (25%) will be offered to the public. The general public subscription is scheduled for January 28–29.

Following the IPO, PQGTL will become the first dedicated general (non-life) takaful operator to be listed on the Pakistan Stock Exchange (PSX), at a time when the benchmark KSE-100 Index continues to scale new historic highs.

“Arif Habib Limited has been mandated by Pak-Qatar General Takaful Limited to act as the consultant and book runner for raising funds through the Initial Public Offering,” the company stated.

The IPO follows the successful listing of Pak-Qatar Family Takaful Limited (PQFTL) last month, which raised Rs901 million at a strike price of Rs18.02 per share.

That offering—Pakistan’s largest dedicated family takaful IPO—was oversubscribed by 3.5 times, reflecting strong investor appetite for Shariah-compliant financial products.

The proceeds from the IPO will be utilized to fund strategic initiatives, “including investments in software and other intangible assets, hardware and infrastructure, marketing and brand development, human resource enhancement, and the establishment of new branches, as well as the transformation of existing branches to improve operational efficiency and customer experience”.

PQGTL is part of Pak-Qatar Group, Pakistan’s premier and pioneer Islamic financial services group and is backed by Qatar-based financial institutions.