Sheikh Saoud bin Khalid bin Hamad Al Thani (right), Chairman of QLM, during the meeting.
Doha: QLM Life & Medical Insurance Company QPSC held its Constitutive General Assembly meeting, yesterday. The constitutive general assembly was successfully concluded by a formal announcement of the incorporation of the converted company.
Thereafter, the first board meeting of the company was held in the presence of Sheikh Saoud bin Khalid bin Hamad Al Thani, the Chairman of the meeting and members of the Board of Directors, who unanimously appointed Fahd Mohamed Al Suwaidi as the Chief Executive Officer of QLM.
The agenda items for the yesterday’s meeting was to hear and approve the Constitutional Committee’s report on the incorporation activities and related cost, to approve the Company’s Article of Association, to approve the appointment of the members of the company’s first Board of Directors, to approve the appointment of the auditors for the first Financial Year and determine their Fees and the announcement of the incorporation of the company. The Initial Public Offering (IPO) of QLM has witnessed high demand from retail and corporate investors and was oversubscribed, reflecting investors’ enthusiasm and trust in the Company. QLM’s IPO was also the first IPO in Qatar where the vast majority of subscriptions were placed using online platforms.
The company has said that investors who subscribed in the IPO but were not allocated the full amount of shares they requested can purchase additional QLM shares following their listing on the Qatar Exchange, which is expected on January 6.
