Abraj to launch IPO introductory meetings tomorrow
Published: 09:02 AM,Feb 19,2023 | EDITED : 01:02 PM,Feb 19,2023
Muscat - The Abraj Energy Services Company - one of the companies of the OQ Group, in cooperation with the Capital Market Authority (CMA) and the Oman Chamber of Commerce and Industry (OCCI), is organizing five introductory meetings for investors, citiens and residents on its to be launched IPO between February 20 and 26.
The first meeting will be held on February 20 at the OCCI branch Sur, while the Chamber’s branch in Suhar will host the second meeting in the North al Batinah on February 21.
The company, in cooperation with CMA will introduce the public subscription of its shares to the representatives of the Muscat Clearing and Depository Company and collection agents.
An introductory meeting will organized in Nizwa on February 23 and on February 25 Directorate General of Heritage and Tourism in Dhofar.
The Capital Market Authority has approved to offer more than 377 million shares of Abraj Energy Services (under conversion) for subscription, and approved the company's share issuance prospectus related to its conversion from a closed joint stock company to a public joint stock company.
Abraj has offered 49 percent of its shares for subscription in two categories - the first category represents 85 percent of the total volume of the offering and is directed to major and institutional investors in the Sultanate of Oman and international investors, and the price range for subscription in the first category is between 242 and 249 baizas per share
The second category is for small individual Investors, which constitutes 15 percent of the total volume being offered.
The offering price for the second category will be offered at the maximum discounted price of 224 baizas per share - the maximum price of 249 baizas offered at a 10 percent discount.
The first meeting will be held on February 20 at the OCCI branch Sur, while the Chamber’s branch in Suhar will host the second meeting in the North al Batinah on February 21.
The company, in cooperation with CMA will introduce the public subscription of its shares to the representatives of the Muscat Clearing and Depository Company and collection agents.
An introductory meeting will organized in Nizwa on February 23 and on February 25 Directorate General of Heritage and Tourism in Dhofar.
The Capital Market Authority has approved to offer more than 377 million shares of Abraj Energy Services (under conversion) for subscription, and approved the company's share issuance prospectus related to its conversion from a closed joint stock company to a public joint stock company.
Abraj has offered 49 percent of its shares for subscription in two categories - the first category represents 85 percent of the total volume of the offering and is directed to major and institutional investors in the Sultanate of Oman and international investors, and the price range for subscription in the first category is between 242 and 249 baizas per share
The second category is for small individual Investors, which constitutes 15 percent of the total volume being offered.
The offering price for the second category will be offered at the maximum discounted price of 224 baizas per share - the maximum price of 249 baizas offered at a 10 percent discount.