This marks a historic milestone. PQFTL has become the first-ever dedicated Family Takaful company to launch an Initial Public Offering at the Pakistan Stock Exchange (PSX).

Strong Investor Demand

Investor participation remained robust throughout the book-building phase. The IPO closed at a strike price of Rs. 18.02 per share, well above the floor price of Rs. 14.

Total demand reached Rs. 1.67 billion against an issue size of Rs. 525 million. As a result, the company successfully raised Rs. 676 million in equity.

Leadership Welcomes Market Confidence

Shahid Ali Habib, CEO of Arif Habib Ltd. and lead manager of the IPO, termed the offering a landmark event.

He said the IPO represents the first public listing in Pakistan’s Islamic insurance (Takaful) sector. According to him, the response reflects strong confidence in PQFTL’s fundamentals and long-term growth potential.

Use of IPO Proceeds

PQFTL plans to utilize the IPO proceeds strategically. First, the company will strengthen its capital base to meet regulatory requirements.

Additionally, funds will support the expansion of digital distribution channels. The company also aims to introduce new customer-centric Takaful products.

Market Leadership in Family Takaful

PQFTL holds a dominant position in Pakistan’s Takaful industry. It commands 44 percent of the overall family Takaful market.

More notably, it controls an overwhelming 90.47 percent share of the dedicated family Takaful segment.

The company also accounts for 6.6 percent of Pakistan’s total life insurance business, reinforcing its leadership role.Amazon

What This Means for the Market

The successful IPO signals growing investor interest in Islamic financial products. It also opens the door for more Takaful companies to explore capital markets.

Overall, PQFTL’s listing marks a major step forward for Pakistan’s Islamic insurance sector.

Read more business and IPO news at:

https://propakistani.pk

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