Oman Qatar Insurance Co. SAOC's board announced at an Aug. 3 meeting that the company plans to float 25 million shares in an IPO.

This is in accordance with a royal decree that requires nonlisted national insurers to offer at least 25% of their share capital in IPOs. U-Capital is the financial adviser and issue manager for the transaction.

Oman Qatar Insurance Company is a subsidiary of Qatar Insurance Co. SAQ.