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FSA approves allocation ratios for Oman’s historic OQEP share subscription

The Financial Services Authority has approved the allocation ratios for shares of OQ Exploration and Production Company following a successful subscription phase that saw demand exceeding the offered shares by 2.4 times.

TAS News Service

info@thearabianstories.com

Wednesday, October 16, 2024

MUSCAT : The total value of the shares subscribed reached approximately RO 1.814 billion, with each share valued at 390 baisas.

The subscription garnered a total of about 4 billion and 820 million shares, significantly surpassing the 2 billion shares offered for public subscription. This strong response underscores the confidence that both local and foreign investors have in the issuing company and the broader Omani capital market.

The allocation plan includes a minimum of 8,000 shares plus 23 percent for small individual investors. For major investors, 32.6 percent of the subscribed shares will be allocated, while 29.8 percent will be designated for institutional investors.


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