Qatar Insurance To List Subsidiary Focused On Foreign Markets

Qatar Insurance Company (QIC) said on Tuesday its board had approved a move to list the firm’s international subsidiary on Qatar’s bourse, paving the way for a second initial public offering (IPO) in the Gulf state after a long drought.

QIC provided no details of the planned flotation of QIC International and said only that the subsidiary was incorporated under Qatar Financial Centre. According to QIC’s website, QIC International includes units operating in Oman, Kuwait and Malta.

The plans follow the February IPO of Mesaieed Petrochemical Holding Co, Qatar’s first stock market listing since 2010, which attracted strong demand.