QLM to be listed on the stock exchange

Qatar Life and Medical Insurance (QLM), a subsidiary of the Qatar Insurance Group (QIC), is setting up its IPO on the Qatar Stock Exchange. The company intends to raise 60% of its capital, that is 659.4 million QAR (178.2 million USD).

The subscription for the deal runs from 19 December to 23 December 2020 and will involve the issuance of 210 million shares at 3.15 QAR (0.85 USD) each. QIC will keep a 25% stake in QLM after the listing and other founders will have a combined 40% stake in the company.

General Retirement and Social Insurance Authority, Doha Insurance Group and Qatar Ports Management will subscribe for 15% of the capital.

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