Pak-Qatar General Takaful to launch IPO next week, target up to PKR 420 million

Pak-Qatar General Takaful Ltd., Pakistan’s first dedicated Shariah-compliant non-life takaful company, plans to launch its initial public offering next week, aiming to raise up to PKR 420 million, the company said Tuesday.

The book-building process is scheduled for Jan. 21-22, with investor registration opening on Jan. 16. The public subscription for retail investors will take place on Jan. 28-29.

Under the offering, the company will issue 30 million shares with a floor price of PKR 10 per share and a ceiling price of PKR 14. Institutional investors will be allocated 22.5 million shares, or 75% of the issue, while 7.5 million shares, or 25%, will be offered to the general public.

Following the offering, Pak-Qatar General Takaful will become the first dedicated general, or non-life, takaful operator to be listed on the Pakistan Stock Exchange, at a time when the benchmark KSE-100 index is trading at record highs.

The company said the listing is part of its strategy to strengthen its paid-up capital base, meet regulatory capital requirements for non-life insurers and takaful operators, and support future growth initiatives.

Arif Habib Ltd. has been appointed as consultant and book runner for the IPO, the company said.

The planned listing follows the successful IPO of Pak-Qatar Family Takaful Ltd. last month, which raised PKR 901 million in Pakistan’s first Islamic insurance sector IPO. That offering, priced at PKR 18.02 per share, was oversubscribed 3.5 times, underscoring strong investor demand for Shariah-compliant financial products.

Pak-Qatar General Takaful said proceeds from the IPO will be used to fund strategic initiatives, including investments in software and other intangible assets, hardware and infrastructure, marketing and brand development, human resource enhancement, the establishment of new branches, and the transformation of existing branches to improve operational efficiency and customer experience.

The company is part of the Pak-Qatar Group, an Islamic financial services group backed by Qatar-based financial institutions, and offers a range of Shariah-compliant general takaful products.

The Securities and Exchange Commission of Pakistan approved the company’s IPO prospectus last week. The regulator has noted that IPO activity has gathered momentum in fiscal year 2025–26, with Pak-Qatar General Takaful’s offering set to become the sixth IPO on the PSX main board so far this fiscal year.