Pak-Qatar General Takaful Limited (PQGTL) is set to enter the capital market next week with an Initial Public Offering (IPO) aimed at raising up to Rs. 420 million, marking a milestone for Pakistan’s Shariah-compliant insurance sector.
According to a company statement issued in Islamabad on January 13, PQGTL will become the first dedicated non-life takaful operator to be listed on the Pakistan Stock Exchange (PSX) following the completion of the offering. The development comes amid strong momentum in the equity market, with the benchmark index trading at record levels.
The book-building process for the IPO is scheduled for January 21–22, while investor registration will open on January 16. The public subscription phase is set for January 28–29.
Capital strengthening and growth plans
The company said the listing is part of its strategy to strengthen its paid-up capital base in line with regulatory requirements applicable to non-life insurers and takaful operators. The additional capital is also expected to support the company’s expansion plans and long-term growth objectives.
Arif Habib Limited has been appointed as the consultant and book runner for the IPO.
Offer structure and pricing
Under the offer, PQGTL will issue 30 million shares, with a floor price of Rs. 10 and a ceiling price of Rs. 14 per share. Institutional investors will be allocated 75% of the shares, while the remaining 25% will be offered to retail investors.
The company said proceeds from the IPO will be used for investments in technology, infrastructure, marketing, human resources, and the establishment of new branches, as well as upgrading existing operations to improve efficiency and customer service.
Growing investor interest in takaful sector
The offering follows the recent listing of Pak-Qatar Family Takaful Limited, which raised Rs. 901 million last month in Pakistan’s first Islamic insurance sector IPO. That issue was oversubscribed by 3.5 times, indicating growing investor appetite for Shariah-compliant financial products.
PQGTL is part of the Pak-Qatar Group, an Islamic financial services group backed by Qatar-based financial institutions. The company offers a range of general takaful products and will become the first of its kind to trade on the PSX upon listing.
The Securities and Exchange Commission of Pakistan (SECP) approved PQGTL’s IPO prospectus last week, noting increased IPO activity on the PSX during the current fiscal year. PQGTL’s listing will be the sixth IPO on the PSX Main Board so far in FY2025–26.
