Muscat – This integrated digital platform, designed in cooperation with the National Program for Financial Sustainability and Financial Sector Development (Estidama) and Muscat Clearing and Depository Company (MCD), aims to streamline the process of issuing securities, enhancing efficiency and attracting greater investment.
The first phase of the E-IPO system aims to achieve the following objectives:
• Improving Efficiency: Reducing the time and effort required for offering of securities.
• Enhancing Cooperation: Providing single framework that enables coordination among the relevant parties
• Encouraging Investment: Streamlining the processes and increasing the attractiveness of the Omani capital market.
The first phase of submitting applications for issuances incorporates three basic steps:
- Data compiling and analysing: Including financial statements, annual reports and legal details
- Applications assessment: Ensuring the issuance is in accordance with the applicable laws and regulations.
- Response to Applications: Providing initial approval and directives for approval of the issuance
This move is expected to further enhance Oman’s capital market by simplifying processes, increasing market transparency, and encouraging greater investment activity.
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