Qatar Stock Exchange (QSE) announced yesterday that it has decided to admit the shares of QLM to trading in the market as of January 13, after completing all necessary technical and administrative procedures. With the listing of QLM, the number of listed companies on the exchange will increase to 48. An official source at QSE said that the shares of QLM will be listed with the code “QLMI” in the Insurance sector. As usual, price floatation for QLM will be permitted only for the first day of listing. Price fluctuation on the second day and thereafter will be permitted by 10 percent up/down as the case for all other listed companies
. The source explained that there will be no change in the trading session during the first day of listing, except for the PreOpen period as brokerage companies will be only permitted to enter buy/sell orders for QLM shares starting at 8:30 am during the first listing day only; while the Pre-Open period for other listed companies will remain as usual, at 9 am.
The data will become available at the brokerage firms effective January 10, so investors will be able to submit their buy/ sell orders directly to the brokers as of that date, the source added. QLM was established on April 30, 2018 with an authorized capital of QR350m, which is 100 percent paid in full.
The Company’s main objective is to carry out life and medical insurance and reinsurance activities under its license issued by the Qatar Central Bank, and any additional insurance activities, which may be licensed to the Company in the future. In carrying out its core objective, the Company shall be authorised in its Articles of Association to carry out any other activities that do not contradict to its main activities
