Karachi, January 20: Pak-Qatar General Takaful Limited (PQGTL) is currently in the process of registering its Initial Public Offering (IPO), which commenced on January 16 and will continue through January 22. As the first-ever dedicated General Takaful company to be listed on the Pakistan Stock Exchange (PSX), Pak-Qatar Group Company aims to raise up to Rs. 420 million through its book-building process scheduled for January 21–22.
Following the successful completion of the IPO, PQGTL will become the first specialized general (non-life) Takaful operator to be listed on the PSX. This milestone aligns with the company’s strategic objective to strengthen its paid-up capital base, ensuring compliance with regulatory capital requirements applicable to non-life insurers and Takaful operators, while also supporting its future growth and expansion plans.
Arif Habib Limited has been appointed as the consultant and lead manager for the IPO. This follows the recent successful listing of Pak-Qatar Family Takaful Limited (PQFTL), which raised Rs. 901 million last month and became Pakistan’s first Islamic insurance company to be listed on the PSX at a strike price of Rs. 18.02 per share. That offering, the largest-ever dedicated family Takaful IPO in Pakistan, was oversubscribed by 3.5 times, underscoring strong investor confidence in Shariah-compliant financial products.
Under the current offering, 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%) will be allocated to institutional investors, while 7.5 million shares (25%) will be offered to the general public. The public subscription is scheduled to take place on January 28–29.
Pak-Qatar General Takaful Limited is among Pakistan’s leading dedicated General Takaful operators, offering a diverse portfolio of Shariah-compliant non-life Takaful products to both corporate and individual clients. The company holds approximately 19% market share in Pakistan’s dedicated General Takaful segment.
PQGTL’s shareholding structure includes sponsors holding 69.28%, directors holding 7.88%, related family members holding 6.89%, and other individual investors holding 15.95%.
The company provides a comprehensive range of customized Takaful solutions designed to meet the evolving risk protection needs of individuals and businesses across various sectors, ensuring financial security and effective risk management through Shariah-compliant mechanisms.
Over the past two decades, the Takaful sector has experienced consistent growth within Pakistan’s insurance industry. Family Takaful now represents approximately 15% of the life insurance market, while General Takaful accounts for around 13% of the non-life insurance segment as of 2024—up from a negligible share in 2006.
The proceeds from the IPO will be utilized to support strategic initiatives, including investments in software and digital infrastructure, hardware upgrades, marketing and brand development, human resource capacity building, and the expansion and modernization of branch operations to enhance efficiency and customer experience.
PQGTL is part of the Pak-Qatar Group, Pakistan’s leading and pioneering Islamic financial services group, backed by prominent Qatar-based financial institutions. Upon listing, PQGTL will become the first dedicated General Takaful company to be publicly traded on the Pakistan Stock Exchange.
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