MUSCAT : Bank Muscat, the leading financial services provider in the Sultanate of Oman, announces that it has successfully managed the initial public offering (IPO) of Oman Indian Fertilizer Company (OMIFCO), one of the Sultanate’s largest industrial companies and a leading producer of ammonia and urea in the region. The subscription period, which ran from 16^th – 25^th of June 2026, witnessed strong interest and robust demand from both retail and institutional investors within Oman and internationally. In addition to acting as IPO Issue Manager and Joint Global Coordinator, the Bank also served as the collecting agent alongside Meethaq Islamic Banking. The appointment of the Bank to assume these roles contributed to the successful execution and management of IPO across all the stages, in line with the highest professional and regulatory standards, thereby enhancing investor confidence and supporting the development of Oman’s capital markets.

OMIFCO had announced the offering of 25% of its share capital through the sale of 1.672 billion shares, raising total proceeds of approximately OMR 260.9 million at the upper end of the price range. This made it one of the largest IPOs on the Muscat Stock Exchange in recent years. Total subscription applications reached 18.0 times the number of shares offered, while the aggregate value of applications amounted to approximately 4.7 billion OMR. This is the highest subscription levels recorded for an IPO on the Muscat Stock Exchange. During the subscription period, 60% of the offered shares were allocated to Category I investors (local and international institutions), equivalent to 1.0 billion shares. This tranche was subscribed 27.4 times, reflecting strong demand from regional and global institutional investors. Category II investors (Omani and resident retail investors) were allocated 40% of the offering, equivalent to 668.9 million shares. This tranche was subscribed 3.9 times, reflecting the growing retail investment culture in the securities market and investors’ appetite for opportunities offered by leading national companies.

On this occasion, Khalifa Abdullah Al Hatmi, Deputy General Manager of Investment Banking & Capital Markets at Bank Muscat, expressed his pride in the successful completion of this transaction, saying: “This IPO represents one of the most significant offerings in the Sultanate in recent years, reflecting investor confidence in OMIFCO and in Oman’s strong economic fundamentals. The success of the offering underscores the continued momentum in the Omani capital market and its growing role in supporting economic diversification and enhancing private sector participation. Bank Muscat’s appointment as Joint Global Coordinator and IPO Issue Manager reflects the confidence placed in the Bank by OMIFCO and its shareholders, most notably given its leading role in executing such major transactions and the capabilities of its specialized Investment Banking and Capital Markets team. We extend our thanks to all investors, partners, and regulatory authorities for their contribution to the success of the IPO, reaffirming the Bank’s commitment to continuing its support for strategic initiatives and transactions that contribute to the development of capital markets and enhance the attractiveness of Oman’s investment environment.”

The successful completion of the OMIFCO IPO represents an important milestone in Oman’s public offering programme, reflecting sustained investor interest in Omani companies with strong operating fundamentals and the ability to generate sustainable returns. It also contributes to deepening the capital market and strengthening the Muscat Stock Exchange’s position as an attractive investment platform.