IPO seen as milestone in QLM growth trajectory, says official
December 05 2020 08:25 PM
QLM
QLM IPO provides eligible investors with the opportunity to invest in Qatar’s largest life and medical insurance company and a regional leader in the sector

QLM Life & Medical Insurance Company’s initial public offering (IPO) is seen as one of the company’s significant achievements that would propel further growth going forward, according to an official.
Salem Khalaf al-Mannai, Group CEO of Qatar Insurance Group, said, “Over the years, QLM has gained a major market share in the life and medical insurance business, and has become one of the leading life and health insurers in the State of Qatar and the wider GCC region. This initial public offering is another milestone on the path towards achieving our growth trajectory.”
The IPO provides eligible investors with the opportunity to invest in Qatar’s largest life and medical insurance company and a regional leader in the sector. Eligible investors include individual Qatari investors, in addition to corporate investors, defined as legal entities incorporated in the Qatar holding a commercial registration certificate issued by the Ministry of Commerce and Industry.
The sole selling shareholder, QIC, in addition to QLM’s other seven founders, intend to jointly retain 40% of QLM’s share capital following the IPO, reflecting their continued support and commitment towards QLM.
A number of prominent anchor investors have demonstrated their confidence in the company and its value proposition by committing to subscribe to 15% of QLM’s total share capital during the IPO.
QLM was the first life and medical insurance company to be set up in Qatar, and is currently the country’s leading provider of group life and medical insurance with a dominant market share.
Since its inception in 2011, QLM has demonstrated consistent profitability and has provided best-in-class group medical and life insurance products and services. QLM works with the region's most comprehensive medical providers’ network which includes over 75,000 healthcare centres spanning 100 countries over six continents.
Investors intending to subscribe should note key dates in the IPO timeline, as follows: subscription period opens Thursday, December 10, 2020; subscription period ends Wednesday, December 23; allotment of offer shares and refund of excess application amounts, if any, Tuesday, December 29; constitutive general assembly, Wednesday, December 30; issuance of the updated commercial registration certificate of the company, reflecting conversion into a QPSC, Thursday, December 31; and expected listing on the QSE, Wednesday, January 6, 2021.
Before investing, individual or corporate investors must consult the prospectus issued in association with the IPO. The prospectus can be obtained from the company’s website at www.qlm.com.qa.
The lead receiving bank is QNB, while other receiving banks include Commercial Bank, Ahli Bank, Doha Bank, and Al Khalij Commercial Bank.



There are no comments.

LEAVE A COMMENT Your email address will not be published. Required fields are marked*
MORE NEWS

HAPPENING IN DOHAMore