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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Vision Insurance listed on Muscat stock exchange

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Muscat: Shares of Vision Insurance Company were listed on Wednesday at the parallel market at Muscat Securities Markets (MSM) after converting the company into a public joint stock company.


Commenting on the listing of Vision Insurance shares at MSM, Mujtaba Abdul Hussain Shaaban, General Manager of Vision Insurance, said that the listing of Vision insurance shares provides strong support to the capital market and an important addition to the Omani insurance sector, which is supported by the relevant authorities.


“Vision Insurance, which has ten-year experience in the Omani market, has 14 branches.The company has posted good profits during the past six years,” he


added.


MSM has issued a decision to list the shares of the company at the parallel market after converting it to a public joint stock company with RO 10 million capital divided into 100 million shares.


The decision included floating the share for one day only; the listing day.


Vision Insurance is the second insurance company to be converted from a closed to public joint stock company in response to the latest amendments made on the Insurance Companies Law issued by the Royal Decree No 39/2014.


The move comes in a bid to develop the sector and augment the capital market.


The listing ceremony was attended by Ahmed bin Mohammed Meqaibel, MSM Deputy Director-General for Administration and Information Technology and Saqr bin Mohammed al Khalili, MSM Deputy Director-General for Operation and Trading Control, as well as some officials from the Capital Market Authority (CMA) and Vision Insurance Company. — ONA


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