Pak-Qatar Family Takaful Limited’s (PQFTL) IPO book-building has concluded with an impressive oversubscription of 3.2 times, marking the first-ever IPO of a dedicated Family Takaful company at PSX.
Investors responded strongly, with the strike price closing at Rs 18.02 per share, compared to the floor price of Rs 14. Total demand reached Rs 1.67 billion against the issue size of Rs 525 million, resulting in an equity raising of Rs. 676 million.
Shahid Ali Habib, CEO of Arif Habib Ltd., the lead manager for the IPO noted that this landmark offering marks the first-ever IPO in Pakistan’s Islamic insurance (Takaful) sector, reflecting strong market confidence in the company and its robust fundamentals.
Proceeds from the IPO will support PQFTL in meeting capital requirements, expanding digital channels, and developing new customer-focused Takaful products.
PQFTL is Pakistan’s first and largest dedicated Family Takaful operator, commanding a 44 percent share of the overall family Takaful market and a dominant 90.47 per cent share of the dedicated family Takaful segment. It holds 6.6 per cent of the country’s total life insurance business.
Comprising of a nationwide sales network with 73 branches and 1,971 field representatives, PQTFL offers personalized investment and takaful solutions across Pakistan. PQFTL also has strategic partnerships with 14 leading banks to offer protection solutions through bank branches and digital platforms.
