Karachi: The general public will have the opportunity to subscribe to the initial public offering (IPO) of Pak Qatar General Takaful Limited (PQGTL) starting January 28, after a strong response from institutional investors in the book-building phase. The subscription window will remain open for 24 hours on January 28 and 29.

According to Pak-Qatar Family Takaful, a total of 7.5 million shares, which account for 25 percent of the total IPO size, will be available to retail investors at a strike price of Rs14 per share. The book-building phase of the IPO, which concluded last week, saw a significant oversubscription of 21 times, indicating robust demand from institutional investors and high-net-worth individuals. The phase received total participation of PKR 4.74 billion from interested investors.

The strike price set at Rs14 per share was 40 percent above the floor price of Rs10, enabling the company to raise Rs 420 million. With the subscription now open to the general public, market observers expect active participation, driven by the strong institutional interest witnessed earlier.