Pak-Qatar General Takaful Limited has commenced the registration phase of its Initial Public Offering, which opened on January 16 and will continue until January 22. The company is poised to become the first dedicated general takaful operator listed on Pakistan Stock Exchange. Through the IPO, PQGTL aims to raise up to Rs. 420 million via a book-building process scheduled for January 21 and 22. Arif Habib Limited has been appointed as consultant and lead manager for the offering, which follows the recent listing of Pak-Qatar Family Takaful Limited, Pakistan’s first listed family takaful company, which raised Rs. 901 million last month.
Under this IPO, PQGTL plans to issue 30 million shares with a floor price of Rs. 10 per share and a ceiling price of Rs. 14 per share. Of these, 22.5 million shares, equivalent to 75 percent, are allocated to institutional investors, while 7.5 million shares, or 25 percent, are reserved for the general public. Public subscription will take place on January 28 and 29. Once listed, PQGTL will be the first general takaful company to trade on PSX. The capital raised will strengthen its paid-up capital base to meet regulatory requirements for non-life insurers and takaful operators, as well as support expansion of operations and business infrastructure.
Pak-Qatar General Takaful currently holds approximately 19 percent market share of Pakistan’s dedicated general takaful segment. Its shareholding structure comprises sponsors with 69.28 percent, directors with 7.88 percent, related parties with 6.89 percent, and other investors holding 15.95 percent. Funds from the IPO will be directed towards technology upgrades, infrastructure development, branch expansion, and investment in human resources, enabling the company to enhance operational efficiency and expand service offerings across the country.
The takaful sector has seen steady growth within Pakistan’s insurance market, with general takaful accounting for about 13 percent of the non-life insurance segment in 2024, according to industry data. PQGTL’s listing reflects the growing presence of Islamic insurance solutions and demonstrates increased investor interest in non-life takaful products. By entering the capital market, the company is positioned to further strengthen its financial base, improve service delivery, and support the continued development of Pakistan’s takaful industry while providing investors with access to a growing segment of the insurance market.
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