MUSCAT: Abraj Energy Services, a subsidiary of OQ, organised an informative session on the Initial Public Offering (IPO) for 49 per cent of its shares, in collaboration with Oman Chamber for Commerce and Industry’s (OCCI) branch in Al Sharqiyah South Governorate. This move comes as part of the efforts exerted by the company to educate investors about how to invest in its IPO that runs from February 20 to March 1, 2023.
Anwar al Sinani, Board Member of OCCI and Board Chairman of OCCI’s branch in Al Sharqiyah South Governorate said, “The Abraj IPO is extremely vital as it is a means of investment for citizens and residents in profitable investment schemes.
The subscription of Abraj, a subsidiary of OQ, which is affiliated to Oman Investment Authority (OIA), is the first of its kind in the oil and gas sector in the Sultanate of Oman. It falls under the directives of the government to attract national and foreign investments and reuse its resources in other areas of investment. This company is highly trusted because of its affiliation to OIA.”
Eng Saif al Hamhami, CEO of Abraj Energy Services, said, “Abraj’s shares are offered for subscription in two parallel categories. The first category is allocated to major Omani and non-Omani investors including individuals and legal entities. It will account for a maximum of 85 per cent of the total public offering. The subscription price in the first category is set within the range of 242 baisas to 249 baisas per share.”
“The second category of shares will be offered for small investors and will account for no less than 15 per cent of the total public offering. It is allocated for individual investors in the Sultanate of Oman. The shares of this second category will be offered at a maximum discounted price of 224 baisas per share, calculated at a maximum price of 249 baisas with a discount of 10 per cent,” he added.
Oman Observer is now on the WhatsApp channel. Click here
