Pak-Qatar General Takaful Limited (PQGTL), a subsidiary of the Pak-Qatar Group, is preparing to launch its Initial Public Offering (IPO) next week, aiming to raise up to Rs420 million. The book-building process is set for January 21-22, with investor registration opening on January 16, the company said in a statement.Â
Pak-Qatar General Takaful has appointed Arif Habib Limited as its consultant and book runner for the IPO.
The company plans to issue 30 million shares, with prices ranging from Rs10 to Rs14 per share. Of these, 22.5 million shares (75%) will be allocated to institutional investors, and 7.5 million shares (25%) will be available to the general public, with subscription dates set for January 28-29.
The IPO will mark PQGTL as the first dedicated general (non-life) takaful operator to be listed on the Pakistan Stock Exchange (PSX), as the KSE-100 Index continues to reach historic highs.
The offering follows the successful IPO of Pak-Qatar Family Takaful Limited (PQFTL) in December, which raised Rs901 million at a strike price of Rs18.02 per share. PQFTL’s IPO was oversubscribed by 3.5 times, signaling strong demand for Shariah-compliant financial products in the market.
The funds raised through the IPO will be directed towards strategic initiatives, including investments in software, infrastructure, marketing, human resources, and the expansion of branches to enhance operational efficiency and improve customer experience.
