This is the largest listing ever in Sultanate of Oman.
The company stated in its statement that the pricing of the offering was set at the upper end of the indicative range between 370-390 baisas per share, and the offer was oversubscribed by about 2.7 times, including the main investors.
The offering included about two billion shares, equivalent to a 25 percent stake.
The listing is part of a privatization program it is implementing Ukyo Government-owned, which helps the Sultanate of Oman diversify its economy and reduce its debt.
This comes after two initial public offerings last year for OQ Gas Network, which raised $771 million, and Abraaj Energy Services, which raised $244 million.
Reuters reported in July, citing sources Asyad Group for Logistics Services It also intends to carry out an initial public offering for its shipping company by the end of 2024.
After the latest initial public offering, the largest in the Gulf region so far this year, OQ’s market value will reach about $8.1 billion, making it the largest company in the region. Muscat Stock Exchange.
Shares are expected to begin trading around October 28, OQ Exploration and Production Company said.
