Pak-Qatar General Takaful Limited (PQGTL) has commenced the registration process for its Initial Public Offering (IPO), which opened on January 16 and will remain open until January 22.
The company, which is part of the Pak-Qatar Group, aims to raise up to Rs420 million through its book-building process scheduled for January 21 and 22. Upon listing, PQGTL will become the first dedicated general (non-life) Takaful operator to be listed on the Pakistan Stock Exchange (PSX).
According to the company, the listing is intended to strengthen its paid-up capital base, enabling it to meet regulatory capital requirements for non-life insurers and Takaful operators while supporting planned growth initiatives. Arif Habib Limited has been appointed as the consultant and lead manager for the IPO.
The offering follows the recent listing of Pak-Qatar Family Takaful Limited (PQFTL), which raised Rs901 million last month. That IPO was oversubscribed by 3.5 times at a strike price of Rs18.02 per share, reflecting strong investor interest in Shariah-compliant financial products.
Under the current IPO, 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 shares offered, 22.5 million shares, or 75 percent, will be allocated to institutional investors, while 7.5 million shares, or 25 percent, will be offered to the general public. Public subscription is scheduled for January 28 and 29.
PQGTL is one of Pakistan’s leading general Takaful operators, holding approximately 19 percent of the country’s dedicated general Takaful market. The company provides a wide range of Shariah-compliant general (non-life) Takaful products for both corporate and individual clients.
The company’s paid-up capital is held by sponsors at 69.28 percent, directors at 7.88 percent, related family members at 6.89 percent, and other individual investors at 15.95 percent.
Pakistan’s Takaful sector has experienced steady growth over the past two decades. As of 2024, Family Takaful accounts for around 15 percent of the life insurance market, while general Takaful represents approximately 13 percent of the non-life insurance segment.
Proceeds from the IPO will be used to fund strategic initiatives, including investments in software and other intangible assets, hardware and infrastructure upgrades, 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 the Pak-Qatar Group, Pakistan’s pioneer Islamic financial services group, backed by Qatar-based financial institutions. Following its listing, the company will become the first dedicated general Takaful operator to trade on the Pakistan Stock Exchange.