Pak-Qatar General Takaful Limited (PQGTL) launched its Initial Public Offering (IPO) on the Pakistan Stock Exchange (PSX) to raise up to PKR420m ($1.5m). The overall issue was subscribed over 10 times.
The Securities and Exchange Commission of Pakistan (SECP) had approved the prospectus for the IPO.
On offer were 30m ordinary shares, representing 29.67% of the company’s total post-IPO paid-up capital. The IPO was effected through the book building method, with 70% of the IPO shares allocated to the book building portion and the remaining 30% offered to retail investors. The floor price was PKR10 per share with a ceiling price of PKR14 per share.
The book-building process was conducted on 21–22 January, with investor registration opening on 16 January. The general public subscription took place on 28–29 January.
PQGTL is the first dedicated General Takaful company to be listed on the Pakistan Stock Exchange (PSX).
PQGTL, giving the rationale for the IPO, said that it aims to reinforce its capital base, improve solvency margins, and expand its digital distribution network while continuing to develop innovative, customer-centric, and cost-effective takaful products.
PQGTL currently maintains an issued and paid-up capital of PKR711.07m. The proceeds raised through this public offering will increase the company’s paid-up capital to PKR1.01bn, enabling PQGTL to meet progressive regulatory milestones for non-life insurers and takaful operators as outlined by the SECP. The phases are as follows:
- Prior to 31 December 2026 - PKR500m
- By 31 December 2026 - PKR1bn
- By 31 December 2028 - PKR1.5bn
- By 31 December 2030 - PKR2bn
PQGTL’s shareholders include Pak-Qatar Investment (Private) with a stake of 33.39%; Qatar Islamic Insurance Group, 12.44%; Qatar International Islamic Bank, 10.00%; and Sheikh Ali Bin Abdullah Al Thani, 13.45%.
PQGTL is one of two dedicated general takaful companies in Pakistan, having a market share of 19% of the dedicated general takaful sector. It operates through eight branches nationwide, covering all major commercial and urban centres including Karachi, Lahore, Islamabad, Peshawar, Sialkot, Multan, Faisalabad, and Sukkur. The takaful operator is part of the broader Pak-Qatar Group, which also includes Pak-Qatar Family Takaful which was listed on PSX on 31 December 2025. M