KARACHI, Jan. 21 -- The initial public offering (IPO) of Pak-Qatar General Takaful Limited (PQGTL) entered its two-day book-building phase on Wednesday, a key step toward its listing on the Pakistan Stock Exchange (PSX). Bidding is scheduled to continue until Thursday, according to the prospectus released by Arif Habib Limited.

Read More: Pak-Qatar Family Takaful Limited listed on PSX

PQGTL, a leading Shariah-compliant insurer, holds 19 percent of Pakistan's general Takaful market. CEO Shaid Ali Habib said the IPO will make PQGTL the first listed general Takaful operator in the country, providing investors with a new avenue in the Islamic finance segment.

The company is offering a total of 30 million ordinary shares, representing 29.67...