QDM International, an insurance distributor in Hong Kong, filed on Tuesday with the SEC to raise up to $8 million in an initial public offering. The company is currently quoted on the OTCQB Venture Market under the symbol "QDMI."
Through its subsidiary YeeTah, the company sells a wide range of insurance products consisting of two major categories: life and medical insurance, such as individual life insurance; and general insurance, such as car insurance, commercial property insurance, liability insurance, and homeowner insurance. YeeTah sells insurance products underwritten by insurance companies operating in Hong Kong to individual customers who are either Hong Kong residents or visitors from mainland China. YeeTah currently has agreements with 17 insurance companies in Hong Kong, and offers approximately 464 insurance products to its individual customers.
The Hong Kong-based company was founded in 1998 and booked $4 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol QDMI. Aegis Capital Corp. and Axiom Capital Management are the joint bookrunners on the deal.
