MUSCAT : The company is transitioning into a public joint stock company and will offer approximately 1.042 billion shares, representing 20 percent of its capital, for public subscription.

The approved offering will be divided into three categories: institutional investors, individual investors, and major investors. As per the prospectus, 45 percent of the shares will be allocated to the institutional category, with the share split equally between local, regional, and international institutions. The minimum subscription for institutions is set at 100,000 shares, with no maximum subscription limit.

For individual investors, 25 percent of the total offering will be allocated, with a minimum subscription of 1,000 shares and an upper limit of 81,300 shares for small investors. Major individual investors can subscribe to a minimum of 81,400 shares, in multiples of 100 shares, with no maximum limit.

The subscription price for the individual category has been set at 123 baisas per share, with the subscription period running from February 20 to 26. For institutional investors, the subscription price will be determined by the book-building process, with a price range between 117 baisas and 123 baisas per share. The subscription for institutional investors will run from February 20 to 27.

The offering also includes a special category for major investors, with 30 percent of the total offering allocated to this group. This category saw subscriptions amounting to more than 312 million shares, totaling a value of over RO 40.63 million.

This public offering aligns with the government’s strategy to divest from certain state-owned assets as part of the broader objectives of Oman’s “Vision 2040,” which seeks to attract national and foreign investments. It is also a step toward diversifying and expanding the investor base, offering opportunities for both local and international investors to participate in the country’s growing maritime transport industry.

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