SEPTEMBER 2, 2023
OQ Gas Networks' IPO to be biggest in Oman
MUSCAT: The Capital Market Authority (CMA) is reviewing the prospectus for OQ Gas Networks Company, which is the largest share issuance in the Omani capital market, as approximately RO 212 million will be offered for public subscription, which represents 49 percent of the company’s capital.
The Authority called on those intending to invest, whether citizens or residents, to prepare for this type of investment by opening an investor account through the Muscat Clearing and Depository Company, which is the body concerned with organizing and maintaining shareholders’ records.
The prospectus is the investor’s guide towards the investment decision. It includes the most important information and data regarding the financial position of the proposed company, its expansion vision, and its opportunities for success, in addition to the challenges it faces and the extent of its ability to compete. These data are essential for the investor to make the investment decision to subscribe.
By offering shares, OQ Gas Networks Company seeks to benefit from the financing advantages offered by the capital market for exiting and financing its projects and investment activities. The offering of shares is considered one of the effective investment tools in the Omani market after the adoption of the Securities Law, which regulated the securities market in a way that achieves effective protection for the dealing parties. It was characterized by sufficient flexibility to attract investment initiatives from issuers and owners of local and foreign capital and employ them in different investment sectors. — ONA
Source: Oman Observer