Hong Kong insurance distributor QDM International (QDMI.US) applies to transfer to NASDAQ planning to raise $8 million.

Spot, Hong Kong insurance distributor QDM International submitted an application to the US Securities and Exchange Commission on Tuesday, aiming to raise up to $8 million through an IPO. The company is currently listed on the OTCQB Venture Market with the code "QDMI". Through its subsidiary YeeTah, the company sells various insurance products, mainly including two categories: life and medical insurance, such as individual life insurance; and general insurance, such as car insurance, commercial property insurance, liability insurance, and homeowners insurance. YeeTah sells insurance products underwritten by insurance companies operating in Hong Kong to residents of Hong Kong or individual customers visiting from mainland China. YeeTah has agreements with 17 insurance companies in Hong Kong and offers approximately 464 insurance products to its individual customers. The company was established in 1998 and as of June 30, 2024, its 12-month revenue was $4 million. The company plans to list on Nasdaq with the stock code QDMI. Aegis Capital Corp. and Axiom Capital Management are the joint book-running managers for this transaction.