Pak-Qatar General Takaful eyes Rs420mn via IPO

Pak-Qatar General Takaful Limited (PQGTL), a Pak-Qatar Group company, is set to launch its initial public offering (IPO) next week to raise up to Rs420 million. According to a statement, the book-building process is scheduled for January 21–22, with investor registration opening on January 16. Under the current offering, PQGTL will issue 30 million shares, with a floor price of Rs10 per share and a ceiling price of Rs14 per share. Of the total offering, 22.5 million shares (75%) will be allocated to institutional investors, while 7.5 million shares (25%) will be offered to the public. The general public subscription is scheduled for January 28–29. Following the IPO, PQGTL will become the first dedicated general (non-life) takaful operator to be listed on the Pakistan Stock Exchange (PSX), at a time when the benchmark KSE-100 Index continues to scale new historic highs.