Pak-Qatar Basic Takaful lists on PSX after record-breaking IPO

KARACHI: Pak-Qatar Basic Takaful Restricted (PQGTL), (Non-life) Takaful operator, marked a defining second in its company journey by itemizing on the Pakistan Inventory Trade (PSX) because the Gong Ceremony held on the (PSX) Buying and selling Corridor, following its historic and record-breaking IPO on Tuesday.
Talking on the event, Saqib Zeeshan, CEO PQGTL, said: We’re grateful to Almighty Allah for this historic itemizing of a primary “Devoted Non-life” Takaful operator and the extraordinary response from traders. This record-breaking IPO displays the deep belief by all stake holders in our Shariah-compliant enterprise mannequin, governance framework, and long-term imaginative and prescient for the event of the Islamic monetary ecosystem. We stay dedicated to delivering sustainable worth, innovation, and moral monetary options for all stakeholders.”
Arif Habib Restricted (AHL) was the Lead Arranger to the Subject, taking part in a pivotal function in managing the IPO course of and guaranteeing its profitable execution. Mr. Shahid Ali Habib, CEO, AHL, stated: “We’re happy to spotlight the profitable IPO of Pak-Qatar Basic Takaful Restricted (PQGTL), which was oversubscribed by an distinctive 21x in the course of the book-building course of, reflecting sturdy and widespread investor confidence. The IPO attracted complete demand of PKR 4.74 billion and achieved the utmost 40% premium, underscoring strong market urge for food and a constructive evaluation of the Firm’s fundamentals, governance, and long-term development prospects.”
Sharing his perspective on this historic achievement, Mr. Farrukh H. Sabzwari, MD & CEO, PSX, said: As we speak marks a historic second for Pakistan’s capital markets. The itemizing of Pak-Qatar Basic Takaful Restricted (PQGTL) is the primary to coincide with the launch of the T+1 settlement cycle, symbolizing progress and innovation in our market infrastructure. This IPO drew an unprecedented response which displays the depth of investor confidence in Pakistan’s capital market.
The historic Gong Ceremony was attended by Consulate Basic of Qatar in Karachi , Board Members and senior administration of Pak-Qatar Group, representatives of SECP, PSX, AHL, NCCPL, CDC and key market contributors. The occasion symbolized the start of a brand new chapter for Pak-Qatar Basic Takaful Restricted as a publicly listed entity, reinforcing its function in strengthening Pakistan’s Islamic insurance coverage and capital market ecosystem.