Pak-Qatar General Takaful IPO Book-Building Begins Tomorrow

Pak-Qatar General Takaful Limited (PQGTL) has entered the registration phase of its Initial Public Offering (IPO), which began on January 16 and will continue until January 22.

The company is set to become the first dedicated general (non-life) takaful operator to be listed on the Pakistan Stock Exchange (PSX). Through the offering, PQGTL aims to raise up to Rs. 420 million via the book-building process scheduled for January 21 and 22.

After listing, PQGTL will be the first general takaful company to trade on the PSX. The capital raised will strengthen its paid-up capital base to meet regulatory requirements for non-life insurers and takaful operators and support operational expansion.

The offering follows the listing of Pak-Qatar Family Takaful Limited last month, which raised Rs. 901 million and became Pakistan’s first family takaful company to list on the PSX.

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Under the current IPO, PQGTL will 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 (75 percent) are allocated to institutional investors, while 7.5 million shares (25 percent) are reserved for the general public. Public subscription will take place on January 28 and 29.

Pak-Qatar General Takaful currently holds around 19 percent market share of Pakistan’s dedicated general takaful segment. Its shareholding structure includes sponsors with 69.28 percent, directors with 7.88 percent, related parties with 6.89 percent, and other investors with 15.95 percent.

Funds raised through the IPO will be used for technology upgrades, infrastructure development, branch expansion, and human resource investment.

The takaful sector’s presence in Pakistan’s insurance market has grown over the years, with General Takaful accounting for about 13 percent of the non-life insurance segment in 2024, according to industry data.