A Pakistani Shariah-compliant insurance firm plans to raise about Rs1.1 billion ($3.9 million) in an initial public offering (IPO) next month, taking advantage of Pakistan Stock Exchange’s (PSX) record-breaking rally, according to a Bloomberg report on Friday.
Pak-Qatar Family Takaful Ltd will offer 50 million shares at up to Rs21/share through book building, said Shahid Ali Habib, Chief Executive Officer at Arif Habib Ltd., lead manager and book runner to the transaction, in an interview.
The funds would be used to meet the minimum capital requirement, expand digital channels and support the development of customer-centric products, Habib said.
The company is backed by leading Qatari institutional investors including Qatar Islamic Insurance Co. and Qatar International Islamic Bank, according to the information available on its website.
Last month, in the third IPO at the PSX for the year 2025, Sinolink REIT Management Company raised Rs921.07 million through selling 92.02 million units of Image REIT during two-day book building (Dutch bidding) process.
The REIT got a “strike price” of Rs10.01/unit, inching up from the bid opening (floor) price of Rs10/unit on the first day.
Earlier, Barkat Frisian Agro and Zarea Limited have also held their IPOs this year.
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