OMAN: Bank Nizwa has announced its participation as a collecting bank in the Shariah compliant IPO of Oman India Fertiliser Company (OMIFCO) on the Muscat Stock Exchange, offering customers subscription access through its branch network for corporate clients and mobile banking application for retail investors, alongside tailored Shariah compliant financing solutions to support participation in the offering. OMIFCO, which operates the largest fertilizer production complex in Oman and ranks among the top five fertilizer producers in the GCC, offered 25% of its share capital for public subscription, with 1.67 billion shares made available to local and international investors, of which 40% were allocated to retail investors and 60% to institutional investors. The participation follows Bank Nizwa's involvement in the successful closing of Oman's 11th sovereign Sukuk issuance, and forms part of the bank's broader strategy to strengthen its position as a leading provider of Islamic investment banking solutions in the Sultanate.
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