PQFTL to raise Rs1.1bn through Dec 11 IPO

KARACHI: Pak-Qatar Family Takaful Limited (PQFTL) is set to make its debut on the Pakistan Stock Exchange (PSX) with an Initial Public Offering (IPO) scheduled to open on December 11, aiming to raise approximately Rs. 1.1 billion.

According to details shared by the company, investor registration for the book-building process will take place on December 8 and 9, while the book-building phase will be conducted on December 11 and 12.

PQFTL plans to offer 50 million shares at a ceiling price of Rs.21 per share. The floor price has been set at Rs.14 per share, with a price band allowing bids up to 50 percent above the floor price. Of the total offer, 37.5 million shares (75 percent) will be allocated to institutional investors through book building, while the remaining 12.5 million shares (25 percent) will be offered to the general public.

Shahid Ali Habib, CEO of Arif Habib Limited — the lead manager and book runner for the IPO — said the issue marks the first-ever public offering by a dedicated family Takaful company in Pakistan. He added that investor interest has been strong, reflecting growing confidence in the Islamic insurance segment.

He noted that the IPO proceeds will help PQFTL meet regulatory capital requirements, expand its digital distribution channels, and accelerate the development of customer-centric products. Backed by key financial institutions from Qatar, the company also plans to scale its operations further in Pakistan’s expanding insurance and Takaful market.

PQFTL is Pakistan’s first and largest dedicated Family Takaful operator, commanding a 44percent share of the overall family Takaful market and a dominant 90.47 percent share of the dedicated family Takaful segment. It holds 6.6 percent of the country’s total life insurance business.