National Life to list shares on Wednesday

Muscat: National Life and General Insurance Company, which closed its OMR21.2 million initial public offering on November 20, will list its shares on the Muscat Securities Market on December 6.
National Life and General Insurance allotted shares to the investors recently, after one month subscription. The insurance firm offered 66.25 million shares or 25 per cent of its paid-up capital at a price of 320 baisas per share.
National Life is the fourth insurance firm in Oman offering shares on the Muscat bourse, after the Al Ahlia Company, Vision Insurance and Oman and Qatar Insurance. The only national insurance firm that is yet to float its shares on the Muscat bourse is Arabia Falcon.
Like other insurance IPOs, National Life has also reserved 65 per cent of its share offer to small investors and 35 per cent to large investors who apply for sizable quantity.
BankDhofar was the issue manager of National Life and General Insurance’s share offer.