{"id":88489,"date":"2024-12-09T00:00:00","date_gmt":"2024-12-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/12\/09\/omans-oq-raises-usd-489-mn-in-oqbi-ipo\/"},"modified":"2024-12-09T00:00:00","modified_gmt":"2024-12-09T00:00:00","slug":"omans-oq-raises-usd-489-mn-in-oqbi-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/12\/09\/omans-oq-raises-usd-489-mn-in-oqbi-ipo\/","title":{"rendered":"Oman\u2019s OQ raises USD 489 mn in OQBI IPO"},"content":{"rendered":"

Oman\u2019s OQ raised OMR 188 mn (c.USD 489 mn) in its initial public offering of its <\/strong>methanol unit OQ Base Industries<\/strong>, according to a statement<\/a> published last week. The IPO saw a 49% stake sold at the top end of the price range at OMR 0.111 (c.USD 0.29) per share, valuing the firm at USD 1 bn. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

What we know:<\/strong> The offering attracted significant demand, with institutional and retail investors committing to OMR 387 mn, Bloomberg<\/a> reported last week. Floated shares will begin trading on the Muscat Stock Exchange around mid-December.<\/p>\n

REMEMBER- <\/strong>The company priced its IPO<\/a> at a range of between 106 bps (USD 0.28) and 111 bps (USD 0.29) per share for its offering of a 49% stake \u2013 around 1.7 bn shares \u2013 last month. Gulf Investment Corp, US-based Falcon Investments, Saudi Omani Investment Company, and Oman\u2019s Social Protection Fund had previously committed to picking up about 30% of the offer as anchor investors.<\/p>\n

ADVISORS- <\/strong>Bank Dhofar, Bank Muscat, and Morgan Stanley were acting as issue managers and joint global coordinators, and BSF Capital and Kamco Investment Co. were acting as joint bookrunners.<\/p>\n

REMEMBER- OQ is on an IPO drive: <\/strong>This IPO follows OQ\u2019s recent IPO<\/a> of its exploration and production arm, which raised around USD 2 bn, making it Oman\u2019s largest-ever IPO despite initial falling on the debut.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares will start trading on the Muscat Stock Exchange this month<\/p>\n","protected":false},"author":1,"featured_media":88490,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[378],"tags":[11,377,92,435],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterpriseclimate","tag-ipo-watch","tag-oman","tag-oq","wpautop","entry"],"acf":{"mongo_id":"622876b4-8c47-4d30-8987-8c7e6a3829c2","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2428.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Oman\u2019s OQ raises USD 489 mn in OQBI IPO","related_issue":[88484],"teaser":"Shares will start trading on the Muscat Stock Exchange this month","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.d83bcac6-ac49-404a-9338-df83eb8446c4.mp3"},"yoast_head":"\nOman\u2019s OQ raises USD 489 mn in OQBI IPO - 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