Holy Land Takaful Insurance Company's initial public offering (IPO) has attracted a subscription rate of around 390%.
The IPO concluded on 25 August 2026, after witnessing a significant turnout from investors. A total of 1,817,500 shares were offered, with a nominal value of $1 per share, while the coverage ratio reached approximately 390%. The subscriptions had a total value approaching $7m, reported Sada News. The figures are preliminary and subject to review and necessary approvals from relevant regulatory authorities, including the Palestinian Capital Market Authority.
The company said that the IPO results reflect the level of confidence enjoyed by its business model and future vision. It also highlights the importance of the IPO in expanding the company's shareholder base, enhancing its presence in the Palestinian market, and solidifying its approach based on transparency, governance and sustainability.
The Chairman of Holy Land Takaful Insurance Company, Mr Abdul Ghani Al-Attari, said that the insurer will continue to build on what has been achieved over the past years by developing its insurance products and services, enhancing digital transformation, expanding its subscriber base, and investing in talent and innovation, thereby solidifying the company's position in the Takaful insurance sector and enhancing its ability to respond to the needs of the Palestinian market.
Holy Land Takaful received regulatory approval in August 2023 to operate as a takaful provider in the Palestinian market with an authorised capital of $15m. It is one of 10 insurers in Palestine and one of four Islamic insurers.