Pakistan’s First “Dedicated Non-Life” Takaful Operator Listed on PSX with Record-Impact IPO

Pak-Qatar General Takaful Limited (PQGTL), Pakistan’s leading Shariah-compliant general (Non-life) Takaful operator, marked a defining moment in its corporate journey by listing on the Pakistan Stock Exchange (PSX). This historic event was celebrated with a Gong Ceremony held at the (PSX) Trading Hall.

PQGTL is part of Pak-Qatar Group, one of Pakistan’s premier and pioneer Islamic Financial Services group. The company successfully listed on the PSX as Pakistan’s first “Dedicated Non-Life” Takaful operator. This achievement stands out as a remarkable milestone in Pakistan’s capital market and Islamic financial services history.

During the IPO process, PQGTL created history by breaking several records. The book-building portion oversubscribed 21 times, while the public offering witnessed a 9.6 times oversubscription. Reflecting exceptional investor demand, 13,013 applications were received—a record high in Pakistan’s IPO history. For the first time, the general public portion was enhanced from 25% to 30%, further broadening investor participation.

Speaking about the historic listing, Mr. Saqib Zeeshan, CEO of PQGTL, said, “We are grateful to Almighty Allah for this historic listing of Pakistan’s first dedicated Non-Life Takaful operator and the extraordinary response from investors. This record-breaking IPO reflects deep trust by all stakeholders in our Shariah-compliant business model, governance framework, and long-term vision for the development of the Islamic financial ecosystem. We remain committed to delivering sustainable value, innovation, and ethical financial solutions for all stakeholders.”

Arif Habib Limited (AHL), as the Lead Arranger, played a pivotal role in managing the IPO process and ensuring its successful execution. Mr. Shahid Ali Habib, CEO of AHL, stated that PQGTL was oversubscribed by an exceptional 21 times during the book-building phase, reflecting strong investor confidence.

Mr. Farrukh H. Sabzwari, MD & CEO of PSX, highlighted the historic significance of this IPO: “Today marks a historic moment for Pakistan’s capital markets. The listing of Pak-Qatar General Takaful Limited coincides with the launch of the T+1 settlement cycle, symbolizing progress and innovation in our market infrastructure. This IPO attracted total demand of PKR 4.74 billion and achieved the maximum 40% premium, underscoring robust market appetite and a positive assessment of the Company’s fundamentals, governance, and long-term growth prospects.”

The historical Gong Ceremony was attended by the Board Members and senior management of Pak-Qatar Group, representatives from SECP, PSX, AHL, NCCPL, CDC, and key market participants. The event symbolized the beginning of a new chapter for PQGTL as a publicly listed entity, reinforcing its role in strengthening Pakistan’s Islamic insurance and capital market ecosystem.

The successful listing of Pak-Qatar General Takaful Limited not only expands Shariah-compliant investment avenues but also sets new benchmarks for transparency, scale, and market confidence within the general Takaful sector. The company plans to leverage this momentum to further enhance product innovation, expand outreach, strengthen digital capabilities, and contribute meaningfully to the growth of Pakistan’s Islamic financial services industry.