The corporate plans to drift as much as 49 p.c of its shares in what could possibly be Oman’s largest IPO in nearly 20 years.
Its plans to drift about 2.12 billion shares would worth the corporate at about 588 million rials ($1.53 billion), in line with Reuters calculations based mostly on indications of allocations to numerous investor classes.
Oman follows neighbors Abu Dhabi and Saudi Arabia in taking a look at gross sales of stakes in vitality belongings, capitalizing on a rebound in crude costs to draw international traders.
OQ’s oil drilling enterprise, Abraj Power Companies, raised $244 million with the sale of a 49 p.c stake final March.
Because the unique operator of Oman’s fuel transport system, OQGN provides pure fuel to energy crops, free zones, industrial clusters, LNG complexes, and different clients.
The IPO subscription interval is predicted to start this month, with an inventory on the Muscat inventory change in October.