The initial public offering (IPO) of Pak Qatar Takaful Limited (PQFTL) will be open to the general public starting December 17 [today], following strong institutional demand during the book-building phase.
A total of 12.5 million shares, or 25% of the total IPO size, will be offered to retail investors at a price of Rs18.02 per share. The subscription window will be open for 24 hours on December 17 and 18.
The book-building phase, which concluded last week, saw the IPO oversubscribed by 3.2 times, signalling strong interest from institutional investors and high-net-worth individuals. The strike price of Rs18.02 was set 29% above the floor price of Rs14, helping the company raise Rs676 million in funds.
The offering presents an attractive opportunity for retail investors, with analysts noting PQFTL’s growth potential and favorable pricing for new investors. Market observers expect significant participation from the public, following the robust institutional interest observed earlier.
On December 12, PQFTL successfully concluded its book-building phase, marking the first public offering by a dedicated family takaful company on the Pakistan Stock Exchange. The IPO attracted investor demand worth Rs1.67 billion against an issue size of Rs525 million, resulting in a successful equity raise of Rs676 million.
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