Upstream subsidiary OQ Exploration and Production (OQEP) this week launched its nine-city roadshow to drum up interest in its plans to float 25% of the company’s shares under its initial public offering (IPO). It will not need to sell the offer too hard as the IPO is already set to be Oman’s largest ever at $2bn (OMR 770mn) valuing the firm at $8bn (MEES, 13 September).
“This is more than a large IPO,” says CEO of Muscat Stock Exchange Haitham al-Salmi in a 25 September LinkedIn post, “it represents the final steps for Muscat Stock Exchange to join emerging markets.” (CONTINUED - 199 WORDS)