QLM IPO: Shares surge 24% on first day of trading

The shares of QLM were listed under the symbol "QLMI" in the insurance sector, where the share price was floated on the first trading day

  
QLM IPO: Shares surge 24% on first day of trading

Doha: Shares of QLM Life & Medical Insurance Company QPSC, were listed on the Qatar Exchange for first day of trading on Wednesday January 13. The listing comes following the company’s successful IPO, making it the first listing in 2021, and bringing the number of companies listed on the market to 48 Qatari public shareholding companies.

The shares of QLM were listed under the symbol “QLMI” in the insurance sector, where the share price was floated on the first trading day. QLM’s stock price closed at QAR 3.90, which represented a 24% jump over the IPO price of QAR 3.15

Mr. Fahd Mohamed Al Suwaidi, CEO, QLM commented: “The QLM IPO represents the beginning of a new phase of development for our Company.  I am delighted at the positive response of the market on the first date of trading, which is a sign of investors’ trust in the company.  I would like to thank my colleagues, our client and our partners for their contribution to the QLM success story.”

The listing comes to conclude the IPO process. Investors who subscribed in the IPO but were not allocated the full amount of shares they requested can now purchase additional QLM shares on the Qatar Exchange. The shares can also be purchased by international and regional investors as well as investors who were not eligible to subscribe in the IPO.

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About QLM:

QLM Life & Medical Insurance differentiates itself from its peers by delivering bespoke and innovative medical insurance solutions with unmatched customer service. Bringing in innovative technologies, QLM Life & Medical Insurance has established itself as a pioneer in Qatar's medical insurance sector. With a highly experienced in-house team of experts and a vast network of medical service providers, QLM Life & Medical Insurance is well-positioned to deliver world-class healthcare services to its multicultural client base.

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