Pak-Qatar Family Takaful Limited (PQFTL) has successfully concluded its initial public offering, with the book-building process oversubscribed 3.2 times, marking the first IPO of a dedicated family takaful company at the Pakistan Stock Exchange.
According to details shared on Friday, the strike price was set at Rs18.02 per share, above the floor price of Rs14. Investor demand reached Rs1.67 billion against an issue size of Rs525 million, resulting in equity proceeds of Rs676 million.
Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, the lead manager for the offering, said the IPO represents the first listing from Pakistan’s Islamic insurance sector, reflecting investor interest in the company’s business model and fundamentals.
PQFTL said the funds raised will be used to meet capital requirements, expand digital distribution channels and develop new customer-focused takaful products.
The company is Pakistan’s first and largest dedicated family takaful operator, holding a 44% share of the overall family takaful market and 90.47% share of the dedicated family takaful segment. It also accounts for 6.6% of Pakistan’s total life insurance business.
PQFTL operates a nationwide sales network comprising 73 branches and 1,971 field representatives, and has partnerships with 14 banks to offer takaful protection products through branch networks and digital platforms.
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