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Blog entry by FintEdu Admin

OQEP Launches Oman’s Largest Public Share Offering with 2 Billion Shares

Oman, 23 September, 2024 : OQ Exploration and Production Company (OQEP), a subsidiary of Oman Investment Authority (OIA), has received approval from the Financial Services Authority (FSA) to offer 2 billion shares (25% of its capital) for public subscription. This marks the largest offering in Oman's capital market history and aligns with OIA’s divestment goals under Oman Vision 2040 to attract local and foreign investment.

The subscription, open from September 30 to October 10, 2024, is divided into three categories: institutions, individuals, and major investors. Institutional investors can build an order book within a price range of 370-390 baisas per share, while Omani individuals will receive a discounted price of 351 baisas. Non-Omanis will pay 390 baisas per share.

The offering allocates 40% to institutions, 40% to individuals, and 20% to major investors. Minimum subscriptions range from 500 shares for individuals to 100,000 shares for institutions.

Source : www.omannews.gov.om

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