Pakistan’s first non-life Shariah-compliant takaful operator says ‘historic’ IPO oversubscribed 21 times

Officials ring the bell at the Pakistan Stock Exchange (PSX) for Pak-Qatar Family Takaful Limited’s first day of trading in Karachi on December 31, 2025. (PQFTL/File)
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Updated 22 January 2026
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Pakistan’s first non-life Shariah-compliant takaful operator says ‘historic’ IPO oversubscribed 21 times

  • Pak-Qatar General Takaful Limited offered 30 million shares to investors with ceiling price of Rs14 per share
  • Company says IPO proceeds will be used for investments in software, infrastructure, setting up new branches

ISLAMABAD: Pakistan’s first non-life Shariah-compliant takaful operator announced on Thursday that its initial public offering (IPO) was oversubscribed 21 times at the country’s stock exchange, saying the development reflected strong investor confidence in the Islamic insurance system. 

The Pak-Qatar General Takaful Limited said earlier this month it would issue 30 million shares with a floor price of Rs 10 and a ceiling price of Rs 14 per share. Institutional investors will receive 75 percent of the shares on offer, while the remaining 25 percent will be allocated to retail investors, it added. 

“Pak-Qatar General Takaful Limited’s (PQGTL) IPO book-building has concluded with a historic oversubscription of [21x] times, marking the first-ever IPO of a dedicated General Takaful company at PSX,” the company said in a statement. 

It said investors responded “strongly” as the strike price closed at Rs 14 per share, compared to the floor price of Rs 10. Total demand reached Rs 4.74 billion [$17 million].

The company said successful bidders will be provisionally allotted 22.5 million shares while the remaining 7.5 million shares will be offered to retail investors on Jan. 28-29. 

Shahid Ali Habib, CEO of Arif Habib Ltd., which was the lead manager for the IPO, said that country’s first-ever IPO of any dedicated general takaful company, has made a historic debut at PSX.

Habib said this reflects investor confidence in Pakistan’s fast-growing takaful sector and PQGTL’s strong market position.

The statement further said proceeds from the IPO will be utilized to fund strategic initiatives, such as investments in software and other intangible assets, hardware and infrastructure, marketing and brand development and human resource enhancement. 

Proceeds will also be used to establish new branches and transform existing ones to improve operational efficiency and customer experience, it added. 

Pak-Qatar General Takaful Limited is part of Pakistan’s pioneer Islamic financial services group and is backed by Qatar-based financial institutions.


Pakistan warns of more rain, snow in north, urges tourists to avoid travel

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Pakistan warns of more rain, snow in north, urges tourists to avoid travel

  • Heavy snow has blanketed parts of Khyber Pakhtunkhwa, Galiyat, Azad Kashmir and Gilgit-Baltistan, cutting off several towns and villages
  • Communications Minister Aleem Khan has directed authorities to ensure highways remain open, fully operational under all circumstances

ISLAMABAD: The Pakistan Meteorological Department (PMD) on Friday warned of more rain and snowfall in northern parts of the country, urging tourists to avoid unnecessary travel as authorities moved to prevent weather-related emergencies.

Rescuers evacuated dozens of stranded residents and tourists to safety as heavy snowfall blanketed several mountainous areas, particularly in the Khyber Pakhtunkhwa (KP) province, blocking roads and cutting off villages.

KP’s Khyber, South Waziristan and Swat districts were the most affected by heavy snowfall on Thursday, where authorities were clearing roads and providing food, warm clothes and bedding to affectees, according to Rescue 1122.

Heavy snowfall was also witnessed in Azad Kashmir, Gilgit-Baltistan, Murree and Galiyat where several vehicles were stuck on roads, while residents complaint of power outages in some areas, local media widely reported on Friday.

“The system causing rain/snowfall is active over northern parts of the country,” the PMD said in its advisory on Friday noon, predicting more showers and snow in the next few hours.

“Tourists [are] advised to stay vigilant and avoid unnecessary travel during rain and snowfall.”

Weather authorities this week forecast intermittent rains and snowfall in northern regions of the country between Jan. 21 and Jan. 24, with heavy snowfall likely in upper and hilly areas of the province.

Tens of thousands of tourists flock to Pakistan’s scenic north every winter to witness snowfall, often neglecting warnings from disaster management authorities.

In Jan. 2022, at least 21 people, including children, died after they were stuck in freezing temperatures during a snowstorm in the Pakistani hill station of Murree.

In view of the situation, Federal Minister Abdul Aleem Khan on Friday directed the National Highway Authority (NHA) to ensure that all highways remain open and fully operational under all circumstances.

“Minister has instructed NHA field staff to remain on high alert and to maintain 24/7 monitoring of weather conditions on highways in snowfall-affected areas,” the Pakistani information ministry said.

“He emphasized that ensuring uninterrupted traffic flow on national highways, particularly in upper regions, is a top priority.”