Muscat – The public subscription for its shares, which includes 40 percent of the 2 billion shares offered – estimated at 800 million shares – is set to close tomorrow, October 9, for individual investors and the day after for institutional investors.

Institutional investors have also shown significant interest, subscribing to 20 percent of the offered (800 million) shares.

The subscription to OQ Exploration and Production shares is the largest of its kind in the Sultanate of Oman and in the region this year, with two billion shares offered for subscription, representing 25 percent of the company’s capital owned by OQ Group

Haitham bin Salem Al Salmi, CEO of Muscat Stock Exchange, hailed the listing of OQ Exploration and Production as a historic milestone, highlighting its role in the ongoing upgrade project for the exchange. He noted that the company’s market value post-listing will exceed RO 3 billion, enhancing the exchange’s attractiveness as an investment destination.

In a statement to the Oman News Agency, Al Salmi emphasized that the Muscat Stock Exchange has dedicated significant efforts to improve its status to that of an emerging stock exchange, as recognized by global rating agencies. He highlighted key criteria such as liquidity and trading volumes that are essential for this classification.

Al Salmi also pointed out the recent launch of market-making activities, which aims to create a more vibrant trading environment. He indicated that the Stock Exchange will soon announce additional services, including marginal financing and securities lending and borrowing, in collaboration with the Financial Services Authority and the Muscat Clearing and Depository Company.

With these developments, Al Salmi expressed confidence that the Muscat Stock Exchange will provide substantial investment value and liquidity, fostering growth and increased trading activity in the near future.