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

By Pramod Kumar
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).  

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