Pak-Qatar Family Takaful (PQFTL), a Shariah-compliant insurance company, has filed a draft prospectus for an initial public offering (IPO). The company plans to raise PKR1.1bn ($3.9m) through the IPO.
According to the draft prospectus, PQFTL will offer 50m shares. 75% of the issue size (i.e. 37.5m shares) will be offered through the book-building method at a floor price of PKR14 per share (including premium of PKR 4.00/- per share) with a maximum price band of up to PKR21. The remaining 25% i.e. 12.5m shares shall be offered to retail investors through the general public portion at the strike price, which shall be the price at which 75% of the issue is subscribed.
The proceeds from the IPO will be allocated to the following purposes:
- Expansion of digital footprint: continuing with its digital transformation strategy.
- Strengthening solvency and enhancing underwriting capacity.
- Compliance with minimum paid-up capital requirements.
PQFTL currently maintains an issued and subscribed paid-up capital of PKR1.81bn. The proceeds raised through this public offering will increase the company’s paid-up capital to PKR2.3bn, empowering PQFTL to meet progressive regulatory milestones comfortably.
The Securities and Exchange Commission of Pakistan (SECP), in a directive dated 3 March 2025, issued revised minimum paid-up capital requirements for insurance and takaful operators, to be implemented in a phased process that will culminate in 2030. For life or family takaful companies, the minimum paid-up capital required is PKR700m at present. This will be raised in phases to PKR3bn by December 2030.
The company’s current shareholders include several Qatari institutions, such as Qatar Islamic Insurance Company and Qatar International Islamic Bank. The takaful company was incorporated in 2006.
As of 13 November 2025, public comments on the IPO prospectus were “Pending” as they were still under review by the company and the Pakistan Stock Exchange before any final approval.
Incorporated in 2006, PQFTL has one of the largest takaful networks in Pakistan. The company’s branches spread across 67 cities. Through alliances with 14 banks, its products are available at 4,500 branches across more than 135 cities in Pakistan. PQFTL currently caters to 1,300 plus corporate clients and over 1m individuals. The company has more than 300 hospitals on its panel across Pakistan. M