Pak-Qatar General Takaful eyes Rs420m in IPO
Pak-Qatar General Takaful Limited (PQGTL) has commenced the registration of its Initial Public Offering (IPO), which began on January 16 and will continue until January 22.
The company, part of the Pak-Qatar Group, aims to raise up to Rs420 million during its book-building process on January 21–22.
PQGTL will become the first dedicated general (non-life) Takaful operator to be listed on the Pakistan Stock Exchange (PSX).
The listing is part of the company’s strategy to enhance its paid-up capital base, allowing it to meet regulatory capital requirements for non-life insurers and Takaful operators, while supporting planned growth initiatives, according to the press release.
Arif Habib Limited has been appointed as the consultant and lead manager for the IPO.
PQGTL’s offering follows the listing of Pak-Qatar Family Takaful Limited (PQFTL) last month, which raised Rs901m and became Pakistan’s first family Takaful company to list on the PSX.
That IPO was oversubscribed by 3.5 times at a strike price of Rs18.02 per share, showing strong investor demand for Shariah-compliant financial products.
Under the current offering, PQGTL will issue 30m shares, with a floor price of Rs10 per share and a ceiling price of Rs14 per share.
Of the total shares, 22.5m (75%) will be allocated to institutional investors, while 7.5m (25%) will be offered to the general public. Public subscription is scheduled for January 28–29.
PQGTL is one of Pakistan’s leading general Takaful operators, holding approximately 19% of the country’s dedicated general Takaful market.
The company provides a comprehensive portfolio of Shariah-compliant general (non-life) Takaful products for both corporate and individual clients.
Its paid-up capital is distributed among sponsors (69.28%), directors (7.88%), related family members (6.89%), and other individual investors (15.95%).
The Takaful sector in Pakistan has expanded steadily over the past two decades.
Family Takaful now constitutes roughly 15% of the life insurance market, while general Takaful accounts for about 13% of the non-life segment as of 2024.
Proceeds from the IPO will be used to fund strategic initiatives, including investments in software and other intangible assets, as well as hardware and infrastructure.
Funds will also be allocated to marketing and brand development, human resource enhancement, and the establishment or transformation of branches to improve operational efficiency and customer experience.
PQGTL is part of Pak-Qatar Group, Pakistan’s pioneer Islamic financial services group, and is backed by Qatar-based financial institutions. Upon listing, it will be the first dedicated general Takaful company to trade on the PSX.
