Pakistan’s capital market is set to welcome a new Shariah-compliant entrant as the Securities and Exchange Commission of Pakistan (SECP) has cleared the Initial Public Offering of Pak-Qatar General Takaful Limited (PQGTL).
The approval allows the company to move ahead with the public offering of 30 million ordinary shares.
Following the IPO, these shares will account for nearly 30 percent of the company’s total paid-up capital.
The offering will be conducted through the book-building process, a method commonly used to determine fair pricing based on investor demand.
Under the approved structure, 75 percent of the IPO shares will be offered to institutional investors and high-net-worth individuals through book building.
The remaining 25 percent will be reserved for retail investors, giving the general public an opportunity to participate in the offering.
PQGTL operates as a Shariah-compliant insurance provider, offering general, or non-life, Takaful products.
With this listing, the company will achieve a significant milestone by becoming the first standalone General Takaful operator to be listed on the Pakistan Stock Exchange.
This is expected to strengthen the presence of Islamic financial products in the country’s equity market.
The SECP highlighted that IPO activity has picked up pace during the current fiscal year. The PQGTL listing will be the sixth IPO on the PSX Main Board in FY2025–26, reflecting growing investor interest and improved confidence in Pakistan’s capital markets.
Market analysts believe the listing could attract investors seeking ethical and Shariah-compliant investment options.
The IPO is also seen as a positive sign for the insurance and Takaful sector, which continues to expand alongside Pakistan’s evolving financial landscape.