Oman state upstream firm OQ Exploration and Production (OQEP) on 17 October completed the bookbuilding process for its 25% flotation on the Muscat Stock Exchange. The offering was 2.7 times oversubscribed and raised $2.025bn (OMR 780mn). When listed at the end of this month, the company will be the largest on the bourse with a market capitalization of $8.1bn (OMR 3.12bn).
The firm set the final price at the respective maximums for each category of investor: OMR 0.390 for Category I institutional investors and Category II non-Omani retail investors, while Omani retail investors got a 10% discount at OMR 0.351 per share. (CONTINUED - 141 WORDS)