Pak-Qatar Family Takaful to Launch Rs. 1.1 Billion IPO on PSX Next Week

Pak-Qatar Family Takaful Limited (PQFTL) is set to become the first dedicated family takaful company to list on the Pakistan Stock Exchange, with its initial public offering (IPO) opening for registration on December 8. The company aims to raise approximately Rs. 1.1 billion through the offering. The IPO will see PQFTL offer 50 million shares via a book-building process, with the price starting at Rs. 14.00 per share and capped at Rs. 21.00 per share, a maximum price band of 50 percent. Of the total shares, 37.5 million 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. Registration for book building will run from December 8 to 10, with the book building itself scheduled for December 11 and 12. Shahid Ali Habib, CEO of Arif Habib Ltd. and lead manager for the IPO, said this marks the first-ever IPO by a dedicated family takaful company in Pakistan, and investor interest has been strong. Proceeds from the IPO will help PQFTL meet minimum capital requirements, expand digital channels, and develop new customer-focused products. The company, backed by Qatar’s financial sector, plans to use the funds to broaden its operations and product offerings in Pakistan’s rapidly growing insurance market. PQFTL is Pakistan’s first and largest company dedicated exclusively to family takaful, holding a 44 percent share of the family takaful sector (including window takaful) and a 90.47 percent share of the dedicated family takaful segment. The company also accounts for 6.6 percent of the total life insurance business in the country. With a nationwide network of 73 branches and nearly 2,000 field representatives, PQFTL offers personalized investment and takaful solutions, and has strategic partnerships with 14 leading banks to provide protection solutions through both bank branches and digital platforms. Despite Pakistan’s insurance penetration remaining low at 0.7 percent in 2024, rising education levels and improving economic conditions point to strong future growth potential. PQFTL’s IPO comes as the global insurance industry continues to expand, with advanced economies seeing penetration rates above 10 percent, while emerging markets in EMEA and Asia, including Pakistan, still lag behind.