Muscat – Institutional investors, both within Oman and internationally, will have until October 10 to subscribe.

The two billion shares on offer account for 25 percent of the company’s capital, through public subscription. Given the size and market value of the company, the step constitutes the largest offering in the history of the Omani capital market.

OQ Exploration and Production Company is an affiliate of Oman Investment Authority (OIA). The offering of shares for subscription embodies OIA’s drive to divest from some government assets. It constitutes a step forward in meeting the objectives of Oman Vision 2040, which is aimed at attracting national and foreign investments.

The CEO of OQ Exploration and Production Company confirmed that all preparations for the start of the subscription in the company’s offered shares are proceeding as planned, so that the company will enter a new phase in its journey in the fields of exploration and production to contribute to the economic development in the country and open broader horizons for more investment.