Islamabad – Pak-Qatar General Takaful Limited (PQGTL) has officially commenced the registration of its Initial Public Offering (IPO), which started on January 16 and will continue until January 22. The IPO aims to raise up to Rs420 million through a book-building process scheduled for January 21–22, marking a historic step as PQGTL will become the first dedicated general (non-life) Takaful operator to be listed on the Pakistan Stock Exchange (PSX).
The move is part of PQGTL’s strategic plan to strengthen its paid-up capital base, meet regulatory capital requirements for non-life insurers and Takaful operators, and support ongoing growth initiatives. Arif Habib Limited has been appointed as the lead manager and consultant for the IPO.
PQGTL follows the successful listing of Pak-Qatar Family Takaful Limited (PQFTL) last month, which raised Rs901 million and became Pakistan’s first family Takaful company to list on the PSX. PQFTL’s IPO was oversubscribed by 3.5 times at a strike price of Rs18.02 per share, reflecting strong investor demand for Shariah-compliant financial solutions.
Under the current offering, PQGTL will issue a total of 30 million shares, with a floor price of Rs10 per share and a ceiling price of Rs14 per share. Of these, 22.5 million shares (75%) are allocated for institutional investors, while 7.5 million shares (25%) are reserved for public subscription, which will take place on January 28–29.
PQGTL is one of Pakistan’s leading general Takaful operators, currently holding approximately 19% of the country’s dedicated general Takaful market. The company offers a comprehensive portfolio of Shariah-compliant non-life Takaful products catering to both corporate and individual clients. Its paid-up capital is distributed among sponsors (69.28%), directors (7.88%), related family members (6.89%), and other individual investors (15.95%).
The Takaful sector in Pakistan has witnessed steady expansion over the past two decades, with family Takaful now representing roughly 15% of the life insurance market and general Takaful accounting for about 13% of the non-life segment as of 2024.
Proceeds from PQGTL’s IPO are expected to fund strategic growth initiatives, including investment in software and other intangible assets, hardware and infrastructure, marketing and brand development, human resource capacity building, and branch establishment or transformation to enhance operational efficiency and customer experience.
As part of the Pak-Qatar Group, Pakistan’s pioneer Islamic financial services organization, PQGTL is supported by Qatar-based financial institutions. Upon successful listing, it will be the first dedicated general Takaful operator trading on the PSX, signaling both the growth of Shariah-compliant financial services and increasing investor confidence in Pakistan’s Islamic finance sector.
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