OQ (Exploration and Production) Shares to be Listed on October 28, Muscat Stock Exchange Awaits Two New IPOs
The Capital Market Authority has announced that the shares of OQ Exploration and Production will be listed on Muscat Stock Exchange (MSX) on October 28. This IPO has attracted significant attention from a wide range of investors, with demand exceeding 2.4 times the offered shares (2 billion shares), resulting in a total of 4.820 billion shares being subscribed.
Abdullah bin Salem Al Salmi, Executive President of the Capital Market Authority, expressed his satisfaction with the success of this IPO, describing it as the largest in the history of Oman’s capital market. He emphasized that the strong demand reflects investor confidence in Oman’s capital market and its capacity to finance large-scale investment projects. He also highlighted that such IPOs further enhance the role of the capital market as a vital source of financing for the national economy.
Al Salmi also pointed out that Muscat Stock Exchange will witness two new IPOs in the near future. It is expected that shares of OQ for Basic Industries will be offered by the end of this year, while shares of Asyad for Maritime Transport are slated to go public at the beginning of next year.
