QLM Life & Medical Insurance Company QPSC Announces Its QAR 659,400,000 IPO On The Qatar Stock Exchange

 IPO of Qatar's leading provider of life and medical insurance

• 60% of QLM’s shares, equivalent to 210,000,000 shares, are being offered at an Offer Price of QAR 3.15 per Offer Share, making the total size of the Offering QAR 659,400,000, excluding the offering costs of QAR 0.01 per share
• QLM's implied total market capitalization at IPO is QAR 1,099,000,000
• Offering Price of QAR 3.15, resulting from the division of QLM’s market capitalization at IPO by the number of QLM’s post-conversion shares (350,000,000 shares)
• The Offering Price consists of the nominal value per share of QAR 1.00, a premium of QAR 2.14 and Offering and Listing Fee of QAR 0.01 per Offer Share
• Continued commitment and support by the selling shareholder QIC, who will retain a 25% shareholding in QLM post-IPO
• Eligible investors include Qatari citizens and legal entities incorporated in Qatar
• Prior commitments obtained from several anchor investors to subscribe for 15% of QLM’s share capital during the IPO
• Subscription Period open from 10 December 2020 to 23 December 2020

To view the company’s press release, click here