Pak Qatar Family Takaful Limited (PQFTL) said today that it is set to launch its Initial Public Offering (IPO) with the book-building phase commencing on December 11, as the company seeks to raise approximately Rs. 1.1 billion in a historic debut on the Pakistan Stock Exchange (PSX).
The two-day book-building process, concluding on December 12, will be open to institutional clients and high-net-worth individuals, who will subscribe to the entire issue size.
Following the book building, successful bidders will be provisionally allocated 75 percent of the issue, equivalent to 37,500,000 shares. The remaining 25 percent, or 12,500,000 shares, will subsequently be offered to retail investors through a general public subscription.
The offering”s floor price is established at Rs. 14.00 per share, with a maximum price band allowing it to rise by up to 50 percent to a ceiling of Rs. 21.00 per share.
Shahid Ali Habib, Chief Executive Officer of Arif Habib Ltd., the lead manager for the transaction, stated that the country”s first IPO by a dedicated Family Takaful company is receiving strong interest from institutional investors.
According to Habib, the capital raised from the public offering is earmarked for meeting minimum capital requirements, enhancing the company”s digital distribution channels, and funding the development of new customer-focused products. The proceeds will support the expansion of operations and product offerings within Pakistan”s growing insurance market.
As Pakistan”s pioneering and largest dedicated Family Takaful operator, PQFTL holds a 44 percent share of the total family Takaful market and a dominant 90.47 percent share within the specialized dedicated family Takaful segment. The company also accounts for 6.6 percent of the nation”s entire life insurance business.
The firm”s operational footprint includes a nationwide sales network consisting of 73 branches and 1,971 field representatives. This is complemented by strategic alliances with 14 leading banks to distribute protection solutions via both branch networks and digital platforms.
The IPO is launched against a backdrop of low insurance penetration in Pakistan, which stood at 0.7% in 2024. However, rising education levels and improving economic conditions suggest significant potential for future growth in the sector.