Muscat – OQBI has reported that the institutional tranche of its IPO, which represents 30 percent of the total shares offered for subscription, has been fully covered at the upper end of the price range of 110 baisas per share since the first day of the subscription period.

The subscription for individual investors is set to close on November 28, while the institutional subscription will continue until December 1.

Dr. Lamia bint Hareb Al Kharousi, IPO Execution Manager at OQ Group, expressed confidence in the strong demand for OQ Base Industries shares, noting that the institutional category being fully subscribed on day one reflects both the attractiveness of the offering and the confidence institutional investors have in the company’s growth potential.

With institutional investors already committing to 30 percent of the shares, Dr. Al Kharousi confirmed that the IPO subscription has been 60 percent covered, thanks to additional pledges from major investors. This demonstrates strong investor interest in OQBI’s promising future.
The share distribution for the IPO is structured as follows: 30 percent of shares are allocated to institutional investors, 40 percent to individual investors, with 20 percent set aside for small investors and 20 percent for large investors. In addition, 30 percent of the shares have been pre-committed by main investors.

The IPO will adopt a unified share price for all categories, which will be determined through the subscription order book process, within a price range starting from 106 baisas and going up to 111 baisas per share.