03-12-2020
An offer price of 3.15 Qatari riyals per share
QLM Life and Health Insurance, a subsidiary of Qatar Insurance Company, announced on its website the initial public offering of the company, and the most important points were:
• The subscription period starts from December 10, 2020 until December 23, 2020.
• The initial public offering of the leading health and life insurance company in Qatar
A total of 210,000,000 shares offered for subscription, equivalent to 60% of the share capital of QLM
• The share offer price is 3.15 Qatari riyals, which is the result of dividing the market value at the initial public offering by the number of the company's 350,000,000 shares after being converted into a public joint stock company. This offering price consists of • the nominal value of one riyal and a premium of 2.14 riyals plus the costs of the offering and the listing fee of 0.01 Qatari riyals per share.
• The selling shareholder, Qatar Insurance Company (QIC), is obligated to support the company after the initial public offering (IPO) by holding 25% of the group of shares in QLM after the initial public offering.
• Eligible Investors are Qatari citizens and legal entities based in the State of Qatar that hold a valid registration certificate in the Commercial Registry issued by the Ministry of Commerce and Industry.
• Advance commitments were obtained from some of the principal investors to subscribe to 15% of the company's capital during the initial public offering.
Key date’s Indicative schedule
10 December, 2020 IPO opening date
23 December 2020 IPO closing date
29 December 2020 Allocation of offer shares and refund of surplus subscription amounts, if any
30 December 2020 Constituent General Assembly
31 December 2020 Issuance of the company’s commercial registration indicating the transformation into a Qatari public shareholding company
06 January 2021 The expected date for the first trading day for shares on the Qatar Stock Exchange
Eligible Investors:
The Offer Shares are offered to the following categories of Qualified Investors (“Eligible Investors”):
(1) Investors who are individuals and legal entities, and this category includes
(A) Individuals who are Qatari citizens (“individual investors”), and (b) legal entities existing in the State of Qatar that hold a valid registration certificate in the commercial registry issued by the Ministry of Commerce and Industry (“Investors are legal entities”) and
(2) A pre-selected class of Principal Investors (referred to as “Principal Investors”)
Shares offered for subscription
210,000,000 shares are offered for subscription by qualified investors, representing 60% of the company’s issued capital, and these shares are offered by the sole selling shareholder, Qatar Insurance Company, which will retain 25% of the issued capital of the company following the initial public offering.
Offer Price:
Shares are offered at an offer price of 3.15 Qatari riyals per share, which includes the nominal value of one Qatari riyal of 1.00 per share and a premium of 2.14 Qatari riyals plus offering costs and listing fees of 0.01 Qatari riyals per share.
Offering prospectus
https://bit.ly/39DKgyi
Announcing the public offering
https://bit.ly/33GPjKy
Financial Statements
30th June, 2020
https://bit.ly/37tPnyi
31st December, 2019
https://bit.ly/33GPfdM
31st December, 2018
https://bit.ly/33AgGWj
Most Asked Questions
https://bit.ly/37vyhQp
Participating subscription banks:
Commercial Bank of Qatar
Ahli Bank
Doha Bank
Al Khaliji Commercial Bank
For more details:
https://www.qlm.com.qa/qlm-ipo/