The book building process for the Initial Public Offering of Pak Qatar Family Takaful Limited (PQFTL) begins today, December 11, and will continue until December 12.
High net worth individuals and institutional investors will subscribe to 100 percent of the issue during this phase.
However, successful bidders will be provisionally allotted only 75 percent of the IPO, or 37,500,000 shares. The remaining 25 percent, totaling 12,500,000 shares, will be offered to retail investors through the general public subscription.
PQFTL aims to raise approximately Rs. 1.1 billion through this IPO. The book building starts at a floor price of Rs. 14 per share and can rise to a ceiling of Rs. 21 per share, reflecting a 50 percent price band.
Shahid Ali Habib, CEO of Arif Habib Ltd. and lead manager for the IPO, said this is the country’s first-ever IPO by a dedicated Family Takaful company and is receiving strong interest from institutional investors.
He added that the proceeds will help PQFTL meet minimum capital requirements, expand its digital channels, and develop new customer-focused products.
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