MSX 30 closes the week higher by 50 points
Published: 02:06 PM,Jun 24,2023 | EDITED : 06:06 PM,Jun 24,2023
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MUSCAT: The Muscat Stock Exchange 30 index closed last week at 4731.12 points, up by 50 points and 1.07 per cent high from the previous trading session, which stood at 4681.05 points. All major sector indices rose, except for the Industry Index, which fell by 0.81 per cent.
The Financial Sector increased by 1.51 per cent, the Service Sector Index was up by 0.31 per cent, and the Sharia Index rose by 0.60 per cent.
The Ominvest-led consortium has made a public announcement of a Cash Takeover Offer to acquire 100 per cent of the issued share capital of Ahli Bank pursuant to the Takeover and Acquisition Regulation issued by CMA subject to regulatory approvals.
The consortium has made a cash offer of 200 baisas per share to all the shareholders of Ahli Bank, irrespective of their shareholding, legal status and jurisdiction.
This cash offer provides a fair and equal treatment to all shareholders including minority shareholders to participate and benefit from the offer.
Raysut Cement has appointed Sohar Islamic Bank as a financial adviser. Under the agreed terms and conditions, the Bank will facilitate and advise the company in pursuing the options to raise the long-term funding and business plan in order to present a comprehensive plan to the esteemed shareholders.
Bank Dhofar has invited shareholders to attend and EGM discuss the following agenda: To consider and approve increasing the Bank’s authorised share capital from RO 500 million to RO 750 million; to consider and approve increasing the Bank’s issued share capital from RO 299.6 million up to a maximum of RO 470 million (the New Issued Capital), and approve the allocation of the New Issued Capital in favour of the shareholders of Ahli Bank who have elected to receive shares in the Bank as a result of the takeover.
Muscat Gases Company informed its shareholders that in order to develop and expand the network and company’s commercial achievements towards profit increase, it has established a branch in Saudi Arabia, the official opening and operation of which will take place in the fourth quarter of 2023.
HSBC Bank Oman held an EGM where shareholders of the Bank approved: The dissolution of the Bank and the proposed merger of the Bank with Sohar International Bank through a merger by incorporation, whereby the Bank will merge into Sohar International with Sohar International as the surviving entity.
The Bank and Sohar International are targeting completion of the merger to take place tentatively on August 17, 2023.
The data issued by the NCSI indicated that the domestic production of natural gas, including imports, decreased by 6.05 per cent YoY to reach 4.312 billion cubic metres, compared to 4.590 billion cubic metres during the period in 2022.
Ubhar Capital (U Capital), a leading brokerage and investment firm in Oman, has received a key license from the Capital Market Authority (CMA) to provide market making and liquidity providing services on the Muscat Stock Exchange.
With this licence granted by the CMA, U Capital has become the first market maker and liquidity provider on the Muscat Stock Exchange. A market maker is a firm or individual that helps ensure the liquidity of a securities market by offering to both buy and sell securities. As the name suggests, market makers ‘make the market,’ and their primary job is to create liquidity in the market by buying and selling securities.
U Capital stated that it has a qualified and trained integrated work team in partnership with Al Ramz Corporation in the UAE. The company also possesses all the necessary requirements to start working in the market making and liquidity providing activity, including skilled staff, technical expertise and technology for the implementation of these activities.
[Courtesy: U-Capital]
The Financial Sector increased by 1.51 per cent, the Service Sector Index was up by 0.31 per cent, and the Sharia Index rose by 0.60 per cent.
The Ominvest-led consortium has made a public announcement of a Cash Takeover Offer to acquire 100 per cent of the issued share capital of Ahli Bank pursuant to the Takeover and Acquisition Regulation issued by CMA subject to regulatory approvals.
The consortium has made a cash offer of 200 baisas per share to all the shareholders of Ahli Bank, irrespective of their shareholding, legal status and jurisdiction.
This cash offer provides a fair and equal treatment to all shareholders including minority shareholders to participate and benefit from the offer.
Raysut Cement has appointed Sohar Islamic Bank as a financial adviser. Under the agreed terms and conditions, the Bank will facilitate and advise the company in pursuing the options to raise the long-term funding and business plan in order to present a comprehensive plan to the esteemed shareholders.
Bank Dhofar has invited shareholders to attend and EGM discuss the following agenda: To consider and approve increasing the Bank’s authorised share capital from RO 500 million to RO 750 million; to consider and approve increasing the Bank’s issued share capital from RO 299.6 million up to a maximum of RO 470 million (the New Issued Capital), and approve the allocation of the New Issued Capital in favour of the shareholders of Ahli Bank who have elected to receive shares in the Bank as a result of the takeover.
Muscat Gases Company informed its shareholders that in order to develop and expand the network and company’s commercial achievements towards profit increase, it has established a branch in Saudi Arabia, the official opening and operation of which will take place in the fourth quarter of 2023.
HSBC Bank Oman held an EGM where shareholders of the Bank approved: The dissolution of the Bank and the proposed merger of the Bank with Sohar International Bank through a merger by incorporation, whereby the Bank will merge into Sohar International with Sohar International as the surviving entity.
The Bank and Sohar International are targeting completion of the merger to take place tentatively on August 17, 2023.
The data issued by the NCSI indicated that the domestic production of natural gas, including imports, decreased by 6.05 per cent YoY to reach 4.312 billion cubic metres, compared to 4.590 billion cubic metres during the period in 2022.
Ubhar Capital (U Capital), a leading brokerage and investment firm in Oman, has received a key license from the Capital Market Authority (CMA) to provide market making and liquidity providing services on the Muscat Stock Exchange.
With this licence granted by the CMA, U Capital has become the first market maker and liquidity provider on the Muscat Stock Exchange. A market maker is a firm or individual that helps ensure the liquidity of a securities market by offering to both buy and sell securities. As the name suggests, market makers ‘make the market,’ and their primary job is to create liquidity in the market by buying and selling securities.
U Capital stated that it has a qualified and trained integrated work team in partnership with Al Ramz Corporation in the UAE. The company also possesses all the necessary requirements to start working in the market making and liquidity providing activity, including skilled staff, technical expertise and technology for the implementation of these activities.
[Courtesy: U-Capital]