Pak-Qatar General Takaful Limited (PQGTL), Pakistan’s leading Shariah-compliant general (Non-life) Takaful operator, marked a defining moment in its corporate journey by listing on the Pakistan Stock Exchange (PSX) as the Gong Ceremony held at the (PSX) Trading Hall, following its historic and record-breaking IPO.
PQGTL, which is a part of Pak-Qatar Group, Pakistan’s premier and pioneer Islamic Financial services group, was successfully listed on the PSX as Pakistan’s first “Dedicated Non-Life” Takfaul operator. An achievement that stands as one of the most remarkable milestones in Pakistan’s capital market and Islamic financial services history.
PQGTL created history during the IPO and broke many records delivering an unprecedented performance, with the book building portion oversubscribed by an extraordinary 21 times, while the public offering witnessed a 9.6 times oversubscription. Reflecting exceptional investor demand, a total of 13,013 applications were received which is the highest ever recorded in Pakistan’s IPO history. In a landmark development, and for the first time in Pakistan’s IPO landscape, the general public portion was enhanced from 25% to 30%, further broadening investor participation.
Speaking on the occasion, Mr. Saqib Zeeshan, CEO PQGTL, stated: We are grateful to Almighty Allah for this historic listing of a first “Dedicated Non-life” Takaful operator and the extraordinary response from investors. This record-breaking IPO reflects the deep trust by all stake holders in our Shariah-compliant business model, governance framework, and long-term vision for the development of the Islamic financial ecosystem. We remain committed to delivering sustainable value, innovation, and ethical financial solutions for all stakeholders.”
Arif Habib Limited (AHL) was the Lead Arranger to the Issue, playing a pivotal role in managing the IPO process and ensuring its successful execution. Mr. Shahid Ali Habib, CEO, AHL, said: “We are pleased to highlight the successful IPO of Pak-Qatar General Takaful Limited (PQGTL), which was oversubscribed by an exceptional 21x during the book-building process, reflecting strong and widespread investor confidence. The IPO attracted total demand of PKR 4.74 billion and achieved the maximum 40% premium, underscoring robust market appetite and a positive assessment of the Company’s fundamentals, governance, and long-term growth prospects.”
Sharing his perspective on this historic achievement, Mr. Farrukh H. Sabzwari, MD & CEO, PSX, stated: Today marks a historic moment for Pakistan’s capital markets. The listing of Pak-Qatar General Takaful Limited (PQGTL) is the first to coincide with the launch of the T+1 settlement cycle, symbolizing progress and innovation in our market infrastructure. This IPO drew an unprecedented response which reflects the depth of investor confidence in Pakistan’s capital market. Equally significant, PQGTL is the first Shariah-compliant listed general insurance (non-life Takaful) operator on PSX, expanding the universe of Islamic financial instruments and setting new benchmarks for transparency and governance. The remarkable investor interest highlights the growing appeal of Shariah-compliant products reinforcing confidence in Pakistan’s Islamic financial ecosystem. We at PSX are proud to host this milestone Gong Ceremony, which strengthens the Islamic insurance sector and highlights Pakistan’s position as a hub for innovative and inclusive financial solutions.
The historical Gong Ceremony was attended by the Board Members and senior management of Pak-Qatar Group, representatives of SECP, PSX, AHL, NCCPL, CDC and key market participants. The event symbolized the beginning of a new chapter for Pak-Qatar General Takaful Limited as a publicly listed entity, reinforcing its role in strengthening Pakistan’s Islamic insurance and capital market ecosystem.
The successful listing of Pak-Qatar General Takaful Limited not only expands Shariah-compliant investment avenues for investors but also sets new benchmarks for transparency, scale, and market confidence within the general Takaful sector. The company plans to leverage the momentum from this milestone to further enhance product innovation, expand outreach, strengthen digital capabilities, and contribute meaningfully to the growth of Pakistan’s Islamic financial services industry.
