Pak Qatar General Takaful Limited will launch its Initial Public Offering next week to raise up to Rs. 420 million, becoming the first dedicated general takaful operator to list on the Pakistan Stock Exchange.
The book building process is scheduled for January 21 to 22, with investor registration opening on January 16, the company said in a statement on Monday.
PQGTL, a Pak Qatar Group company and one of Pakistan’s pioneering dedicated Shariah-compliant takaful providers, will issue 30 million shares with a floor price of Rs. 10 per share and a ceiling price of Rs. 14 per share.
Of the total offering, 22.5 million shares, representing 75%, will be allocated to institutional investors, while 7.5 million shares, representing 25%, will be offered to the public. The general public subscription is scheduled for January 28 to 29. The listing comes at a time when the benchmark KSE 100 Index continues to scale new historic highs.
The listing forms part of PQGTL’s strategy to enhance its paid-up capital base, enabling the company to meet applicable regulatory capital requirements for non-life insurers and takaful operators, while supporting future growth initiatives.
Arif Habib Limited has been mandated 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 last month, which raised Rs. 901 million in Pakistan’s first-ever Islamic insurance sector IPO at a strike price of Rs. 18.02 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, and human resource enhancement.
Funds will also support 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. The company offers a comprehensive range of Shariah-compliant general takaful products.
Last week, the Securities and Exchange Commission of Pakistan approved PQGTL’s IPO prospectus, noting that IPO activity at the PSX has gathered strong momentum during fiscal year 2025 to 26.
PQGTL’s offering will mark the sixth IPO on the PSX Main Board so far this fiscal year. The strong performance of Pak Qatar Family Takaful’s recent listing has set a positive precedent for PQGTL’s market debut.
Industry analysts say the back-to-back listings of family and general takaful operators demonstrate the growing maturity of Pakistan’s Islamic finance sector and increasing investor confidence in Shariah-compliant business models.
The takaful industry has shown steady growth in recent years as awareness of Islamic financial products increases among Pakistani consumers.
PQGTL’s listing will provide investors with exposure to the non-life segment of the Islamic insurance market, complementing the family takaful options already available on the stock exchange.