United Arab Emirates - December 22, 2020: QLM Life & Medical Insurance Company the leading life and medical insurance company in Qatar reminds investors to subscribe to the Initial Public Offering ('IPO' or the 'Offering'), which ends tomorrow at close of business (Doha time) on 23 December 2020.
Eligible investors - Qatari nationals and companies incorporated in Qatar and holding a commercial registration certificate with the Qatari Ministry of Commerce and Industry (MOCI), and anchor investors defined as legal entities incorporated in the State of Qatar holding a commercial registration certificate issued by the MOCI can subscribe to the IPO.
The Offer Shares are being offered at QAR 3.15 per Offer Share (the 'Offer Price'), which includes the Offering and Listing Fee of QAR 0.01 per Offer Share.
Eligible investors who are interested in subscribing to the IPO of QLM can subscribe at all receiving banks, namely, QNB, Commercial Bank P.S.Q., Ahli Bank Q.P.S.C., Doha Bank Q.S.C., Al Khalij Commercial Bank P.Q.S.C., or visit the nearest branch to register their interest.
The allotment of Offer Shares and refunds of excess application amounts, if any, is expected to occur by 29 December 2020. The Company's conversion into a Qatari public shareholding company (a 'Q.P.S.C') and issuance of its amended commercial registration is expected to be completed on 31 December 2020.
Established in 2011, QLM was the first insurance company in Qatar to focus solely on life and medical insurance services. QLM has the largest network of healthcare providers among insurers in the Middle East region. Its provider network includes over 75,000 medical facilities, including; hospitals, clinics, diagnostic centers and pharmacies, in 103 countries across six continents. QLM's advanced in-house capabilities, right from policy underwriting to claims processing, ensures the efficient management of its operations and the seamless delivery of innovative insurance solutions.