Pak Qatar General Takaful made its trading debut on the main board of the Pakistan Stock Exchange (PSX) yesterday.
The company’s shares traded at PKR15.40 (5.5 US cents) and closed at the same price, with 385,175 shares changing hands on the first day of trading, according to PSX data. The closing price was 10% higher than the opening price of PKR14 per share that was determined through a book-building process. The nominal price of a share is PKR10.
Pak Qatar General Takaful is quoted under the Insurance sector in PSX’s daily quotations. The company is the first Shariah-compliant general insurer to be listed on the exchange. It has been included in the PSX-KMI All Share Islamic Index from the date of listing.