QLM Life and Medical Insurance Company, a subsidiary of Qatar Insurance Company, is tapping the market with a 60% initial public offering (IPO) at QR3.15 a piece to raise as much as QR659.4mn. QLM, whose capital base is 350mn shares, is offering 60% or 210mn ordinary shares (of QR1 face value) to the public through the maiden offer, which will be on tap from December 10 to 23. The eligible investors include Qatari citizens and legal entities incorporated in Qatar. In the first tranche, as much as 45% or 157.5mn shares are offered to individuals and corporates and in the second tranche, the remaining 15% or 52.5mn share are offered to anchor investors as General Retirement and Social Ins
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