OMAN: The IPO for OQ Base Industries – the sole integrated producer of methanol, ammonia, and LPG products in Oman – is offering 49% of its total issued capital to three groups of investors for OMR0.111 (US$0.29) per offer share. From this portion of about 1.7 billion shares valued at over OMR180 million (US$466.16 million), 30% has been allotted to four anchor investors – Falcon Investment (a subsidiary of Qatar Investment Authority), Gulf Investment Corporation, the Saudi Omani Investment Company (a wholly owned entity of Saudi Arabia’s PIF) and the Omani Social Protection Fund. The remainder will be offered as Category I (30%) for institutional investors till the 1st December 2024 and Category II (40%) for retail investors in Oman till the 28th November 2024. Classified as a Shariah compliant offering, the shares are scheduled to be listed on the Muscat Stock Exchange on the 12th December 2024.
Restricted Access
Login to continue reading (existing subscriber)
Subscribe NOW and get:
- Gain unlimited access through all key operating platforms
- Full access to all listed Islamic funds & fund profiles
- Unlimited access to all Islamic fund managers
- Access to all exclusive articles, reports, podcasts & videos
- Complimentary access to all IFN Investor Forums
