'Exciting times for energy sector’

Buoyed by the oversubscription of initial public offering (IPO) of OQ Gas Networks (OQGN), the sole operator of Oman’s gas transportation system, a senior OQGN official said that “exciting times lie ahead in the renewable energy sectors and there is a piece of pie for every player.” The IPO received a good response from local, regional, and international investors and was oversubscribed by nearly 14 times, making it the largest IPO in the sultanate. Total demand for the OMR288mn IPO surpassed OMR 4bn, resulting in an oversubscription level of 13.9 times, for all tranches combined.