Skip to content Skip to Search
Skip navigation

Oman to list state-owned entities to boost sultanate’s capital market

A total of 2.1 billion shares, representing 49 percent of the company's issued share capital, were offered, making the OQGN IPO the 'largest-ever' in Oman Creative Commons
A total of 2.1 billion shares, representing 49 percent of the company's issued share capital, were offered, making the OQGN IPO the 'largest-ever' in Oman

State-owned enterprises that are part of Oman Investment Authority (OIA) are gearing up for privatisation through listing on the Muscat Stock Exchange (MSX), the Oman Daily Observer said, citing bourse CEO Haitham bin Salim Al Salmi.

The proposals are aimed at boosting the growth of the country’s capital market over the next five years.

The process of listing four OIA-affiliated entities on the MSX through initial public offerings (IPOs) will commence during the current quarter, Al Salmi said.

These companies operate in various sectors: two are in the energy business under OQ Group, one is an industrial company, while the remainder is a real estate firm.

Moreover, the MSX is working on setting up a department for ESG, diversification, and integration, while coordinating with other Gulf nations to produce a consolidated guide for these practices.

Al Salmi noted that the exchange would establish a dedicated securities market for small and medium enterprises (SMEs).  

Latest articles

Emirati director Nayla Al Khaja. Her film 'Three' is currently being shown in UAE theatres in Mandarin using Camb.ai's AI translation programme

Dubai startup helps AI-voice cloning take centre stage

A YouTube video released in January of Novak Djokovic shows the tennis star speaking fluent Spanish at a post-match press conference.  While the Serbian champion is renowned for speaking several languages, in this case his voice was created by an artificial intelligence tool developed by a Dubai-based startup, Camb.ai. The original Djokovic footage was taken […]

Alec IPO SeaWorld Abu Dhabi

Alec IPO could start listings rush in construction sector

A listing by Dubai’s Alec Engineering and Contracting could open the gates for more construction-related companies to go public as they take advantage of the country’s buoyant property market, according to a business expert. Alec, which is backed by the Investment Corporation of Dubai (ICD), the emirate’s sovereign wealth fund, is behind some of the […]

A Saudi woman works inside the first all-female call centre in the kingdom's security sector, in the holy city of Mecca, Saudi Arabia August 29, 2017. REUTERS/Suhaib Salem

Saudi Arabia unemployment fell in Q4 2023

Unemployment among Saudi Arabian nationals fell to 7.7 percent in the fourth quarter of 2023, from 8 percent during the same period in 2022, the government said this week, reflecting the growth of the non-oil sector despite an economic contraction.  Unemployment among Saudi males was 4.6 percent, which was up from 4.2 percent the year […]

Saudi finance minister Mohammed al-Jadaan

Saudi FDI inflow up but still far short of target

The net inflow of foreign direct investment into Saudi Arabia was just over SAR13 billion ($3.5 billion) in the fourth quarter of 2023, up 16 percent on the previous period, government data said this week.  The data, released by the General Authority for Statistics, puts the total net inflow for 2023 at SAR46 billion, which […]