{"id":115740,"date":"2026-06-12T00:00:00","date_gmt":"2026-06-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/?p=115740"},"modified":"2026-06-12T07:12:40","modified_gmt":"2026-06-12T07:12:40","slug":"omans-omifco-is-the-last-big-mena-ipo-still-standing-and-it-says-its-going-to-start-trading-in-july","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/menaplus\/2026\/06\/12\/omans-omifco-is-the-last-big-mena-ipo-still-standing-and-it-says-its-going-to-start-trading-in-july\/","title":{"rendered":"Oman\u2019s Omifco is the last big MENA+ IPO still standing \u2014 and it says it\u2019s going to start trading in July"},"content":{"rendered":"

The last big IPO still in the MENA+ market is pushing ahead<\/strong> as Oman signalled it\u2019s taking fertilizer champion Oman India Fertiliser Company (Omifco) public even after Banque du Caire and Mutlaq Al-Ghowairi delayed to fall.<\/p>\n

Shareholders in the Oman-India JV behind the Sur fertilizer complex are looking to raise <\/strong>as much as USD 678 mn <\/strong>from the sale of 25% of Omifco on the Muscat Stock Exchange, according to a statement (pdf)<\/a> , with the order book set to open this month and trading to begin on 8 July. The offer is all secondary, with all proceeds going to existing shareholders. <\/p>\n

Omifco is marketing itself as a dividend play<\/strong>, saying it expects to pay a divvy worth OMR 71.2 mn (c. USD 185 mn) for FY 2026 in two equal installments in September 2026 and April 2027, then 90% of net profits in 2027-2028 or 3% annual growth on the 2026 payout, whichever is higher.<\/p>\n

Why it matters: <\/strong>With Banque du Caire pushing its roadshow<\/a> to September-October and Saudi Arabia\u2019s Mutlaq Al-Ghowairi postponing its listing, Omifco is the last big regional listing still on the summer calendar. Qalaa Holding also joined the wait-for-September club this week, pushing the IPO of its ports arm, National Ports Management, to September<\/a> from a June-July window and trimming its follow-on pipeline to three subsidiary floats from five<\/a>.<\/p>\n

In brighter news: ADX expects two to three dual listings before year-end<\/strong>, with tech and healthcare names working through home-market approvals<\/a> \u2014 Hong Kong-listed biotech Insilico Medicine is among those previously flagged<\/a> for a secondary Abu Dhabi offering. ]<\/p>\n

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File the week\u2019s biggest \u201cM&A\u201d headline under \u201crestructuring.\u201d<\/strong> Abu Dhabi\u2019s L\u2019imad now holds more than 98% of utility Taqa after AD Power, an indirect wholly owned subsidiary, took over 2PointZero\u2018s entire 7.29% stake, worth AED 21.5 bn at Wednesday\u2019s close by our math. (Disclosures here<\/a>, here<\/a>, and here<\/a>.) This is Abu Dhabi consolidating Abu Dhabi: L\u2019imad has already folded in ADQ<\/a> and Cyvn<\/a> this year, while 2PointZero \u2014 fresh from its three-way merger<\/a> with Multiply and Ghitha \u2014 says the proceeds shore up its balance sheet and fund deals across energy, mining, consumer, food, and packaging. <\/p>\n

In other M&A news: <\/strong><\/p>\n