PQFTL IPO off to a flying start, oversubscribed 3.2 times

December 12, (MLN): Pak-Qatar Family Takaful Limited (PQFTL) has successfully closed its IPO book-building process with a robust oversubscription of 3.2 times, a historic milestone as the Pakistan Stock Exchange’s first-ever IPO by a dedicated Family Takaful company.

The offering attracted strong investor interest, setting the strike price at Rs 18.02 per share against the floor price of Rs 14, said a press release issued

Total bids amounted to Rs 1.67 bn, far exceeding the issue size of Rs 525 million, enabling the company to raise Rs 676m in equity.

Shahid Ali Habib, CEO of Arif Habib Ltd. the IPO’s lead manager said the successful book-building reflects investor confidence in both the Takaful sector and PQFTL’s sound business fundamentals.

Funds raised through the IPO will help the company meet regulatory capital requirements, enhance digital distribution channels, and introduce new customer-centric Takaful products.

PQFTL is Pakistan’s first and largest standalone Family Takaful operator, holding a 44% share of the overall family Takaful market and a commanding 90.47% share within the dedicated segment. The company also accounts for 6.6% of the country’s total life insurance market.

With a presence spanning 73 branches and 1,971 field representatives, PQFTL provides customized Takaful and investment solutions nationwide. 

The company also partners with 14 major banks, offering protection and savings products through both branch networks and digital platforms.

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