A Qatari-backed Shariah-compliant insurance company is preparing to launch an initial public offering (IPO) in Pakistan next month, targeting a capital raise of around $3.9 million, reported Bloomberg.
The planned listing comes amid a record-breaking rally in Pakistan’s stock market, drawing strong interest from both local and international investors.
Pak-Qatar Family Takaful Ltd. is set to offer 50 million shares at up to Rs. 21 per share through a book building process, according to Shahid Ali Habib, CEO of Arif Habib Ltd., the lead manager and book runner for the IPO.
Proceeds from the IPO will help Pak-Qatar Family Takaful meet minimum capital requirements, expand its digital channels, and develop more customer-focused products, Habib said.
The company is backed by major Qatari institutional investors, including Qatar Islamic Insurance Co. and Qatar International Islamic Bank.
The IPO will mark a significant milestone for the country’s Islamic finance sector, offering investors a new opportunity to participate in the growth of Shariah-compliant insurance, also known as takaful.
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.
The planned IPO is expected to further deepen Qatar’s investment footprint in Pakistan and support the government’s efforts to boost financial inclusion through Islamic finance. The offering will also provide a fresh avenue for investors seeking exposure to the insurance sector, which has seen increasing demand for Shariah-compliant products in recent years.
Amazing, Which the correct date of launching and what’s the name of coin in market.
Ok
Please introduce complete procedures for opening of acct in stock market through mobile apps, which should be simple, avoid lengthy process so that maximum people may invest their amounts.