Islamabad (Zahid Yaqoob Khawaja): Pak-Qatar General Takaful Limited (PQGTL), a Pak-Qatar Group Company, is one of Pakistan’s pioneering dedicated Shariah-compliant takaful providers, is set to launch its Initial Public Offering (IPO) next week to raise up to Rs. 420 million, the company said in a statement on Monday.

The book-building process is scheduled for January 21–22, with investor registration opening on January 16.

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 the total offering, 22.5 million shares (75%) will be allocated to institutional investors, while 7.5 million shares (25%) will be offered to the public. The general public subscription is scheduled for January 28–29.

Following the IPO, PQGTL will become the first dedicated general (non-life) takaful operator to be listed on the Pakistan Stock Exchange (PSX), at a time when the benchmark KSE-100 Index continues to scale new historic highs.

The listing forms part of PQGTL’s strategy to enhance its paid-up capital base, enabling the company to meet applicable regulatory capital requirements for non-life insurers and Takaful operators, while supporting future growth initiatives.

“Arif Habib Limited has been mandated by Pak-Qatar General Takaful Limited to act as the consultant and book runner for raising funds through the Initial Public Offering,” the company stated.

The IPO follows the successful listing of Pak-Qatar Family Takaful Limited (PQFTL) last month, which raised Rs. 901 million in Pakistan’s first-ever Islamic insurance sector IPO at a strike price of Rs. 18.02 per share. That offering—Pakistan’s largest dedicated family takaful IPO—was oversubscribed by 3.5 times, reflecting strong investor appetite for Shariah-compliant financial products.

The proceeds from the IPO will be utilized to fund strategic initiatives, including investments in software and other intangible assets, hardware and infrastructure, marketing and brand development, human resource enhancement, and the establishment of new branches, as well as the transformation of existing branches to improve operational efficiency and customer experience.

PQGTL is part of Pak-Qatar Group, Pakistan’s premier and pioneer Islamic financial services group and is backed by Qatar-based financial institutions. The company offers a comprehensive range of Shariah-compliant general takaful products and, upon listing, will become the first dedicated General Takaful company to trade on the PSX.

Last week, the Securities and Exchange Commission of Pakistan (SECP) approved PQGTL’s IPO prospectus, noting that IPO activity at the PSX has gathered strong momentum during FY2025–26. PQGTL’s offering will mark the sixth IPO on the PSX Main Board so far this fiscal year.