Qatar-backed insurer plans Pakistan IPO in November

A Pakistani Shariah-compliant insurance firm backed by Qatari investors is planning a public listing next month with a target to raise approximately $3.9 million, according to Bloomberg.

In its initial public offering (IPO), Pak-Qatar Family Takaful Ltd. will offer 50 million shares at up to PKR 21 per share through a book-building process, said Shahid Ali Habib, CEO of Arif Habib Ltd., which is serving as the lead manager and book runner for the transaction.

The IPO comes amid a rally in Pakistan’s stock market, which has surged 42% this year, buoyed by improved economic sentiment following a $7 billion loan program from the International Monetary Fund.

On Thursday, the IMF reached a staff-level agreement with Pakistan for the release of the next loan tranche.

The planned listing follows a record-setting performance by Pakistan’s benchmark index, which recently hit all-time highs. Analysts say the rally is being driven by stabilizing inflation, increased political stability, and renewed foreign investor interest in emerging markets.

The proceeds from the IPO will help Pak-Qatar Family Takaful Ltd meet regulatory capital requirements, expand its digital infrastructure, and develop new customer-focused products, Habib said.

The insurer is backed by major Qatari institutional investors, including Qatar Islamic Insurance Co. and Qatar International Islamic Bank, according to the company’s website.

The offering may also signal growing Gulf-region participation in Pakistan’s capital markets, potentially encouraging more Shariah-compliant listings and deepening cross-border financial ties.

It comes at a time when global interest in Islamic finance and its intersection with digital assets is gaining momentum.