• The company's market capitalization is 842 million Qatari riyals upon listing
• Listing 200 million shares at the listing price of QR 4.21 per share
• 25% of the company's shares were previously sold to more than 100 investors before listing, and accordingly, the percentage of shares available for literal stock trading is 25% of the company's shares.
• The founders of the company are obligated to keep 75% of the company's shares during the first year, starting from the first day of trading, in line with the legal ban on trading the founders' shares
Daman Islamic Insurance Company “Beema” Q.P.S.C. (“Beema” or the “Company”), an insurance company, today announced
The leading Islamic bank in the State of Qatar, that it has obtained the required regulatory approvals from the Qatar Financial Markets Authority, the Qatar Central Bank and the Qatar Stock Exchange to list its shares in the main market of the Qatar Stock Exchange according to the direct listing mechanism. Beema was established in 2009 by its five founding shareholders, Qatar Islamic Bank B.S.C. M. Q.P.S.C., Qatar Insurance Company Q.P.S.C., Masraf Al-Rayyan Q.P.S.C., Barwa Real Estate Company Q.P.S.C., and QInvest, referred to as the “Founders”. The company provides a wide range of innovative Takaful insurance solutions to both individual and corporate customers directly and through a diversified distribution network. Takaful and health products (which include health insurance, group takaful, and group credit takaful) accounted for (59) percent of the company’s business for the year 2021, while personal insurance, which includes vehicle and travel insurance) constituted (28%) compared to (13%) for insurance products. Takaful on property and against losses.
The listing price was set at 4.21 Qatari riyals per share, which represents an issuance premium of 3.21 Qatari riyals per share over the nominal value of one Qatari riyal per share. The listing price of the share is the market value of Beema Company amounting to 842,000,000 Qatari riyals (eight hundred and forty-two million Qatari riyals) upon listing.
It is expected that the first trading day will be during the month of January 2023, which will be determined according to obtaining the approved listing date from the regulatory bodies. The company will announce the date of listing upon obtaining all relevant approvals and specifying it by the regulatory authorities.
Listing prospectus
https://beema.com.qa/wp-content/uploads/2022/12/Beema_Listing_Prospectus_22.12.2022-Arabic.pdf
Investor Presentations
https://beema.com.qa/wp-content/uploads/2022/12/Beema-Investor-Presentation-Arabic.pdf
For more information about the listing of Bima's shares on the Qatar Stock Exchange
https://beema.com.qa/ar/direct-listing/