Friday 04 / April / 2025
Muscat: The Initial Public Offering (IPO) of the shares of Abraj Energy Services (Under transformation), a subsidiary of Oman’s global integrated energy group OQ, will commence from February 20 to March 2.
The IPO of Abraj Energy comes as part of the release plan announced by the Oman Investment Authority (OIA) in a number of government investments to create investment opportunities for investors (both citizens and residents) as part of the targets of Oman Vision 2040.
This step aimed to boost the participation of the private sector in the economic fields at the national level.
Earlier, the Capital Market Authority (CMA) had approved the public offering of more than 377 million shares of Abraj Energy Services (under transformation).
It also approved the stock prospectus of the company and its transformation from a closed to a joint stock company.
It is worth noting that Abraj Energy Services has offered 49 per cent of its shares for public subscription. The shares will be provided in two parallel categories. The first category will be allocated to major investors and will account for 85 per cent maximum of the total public offering. It will be directed to major and corporate investors in Oman and international investors. The subscription price in the first category will be set within the range of OMR0.242 to OMR0.249 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 to individual investors in the Sultanate of Oman. The shares of this second category will be offered at a maximum discounted price of OMR0.224 per share, calculated at a maximum price of OMR0.249 less a discount of 10 per cent.
Roadshows to be conducted in different governorates
Abraj Energy Services, a subsidiary of OQ, the global integrated energy group, will organise five information sessions about the initial public offering (IPO) of its shares during the period from February 20 – 26 in collaboration with the Capital Market Authority (CMA) and Oman Chamber for Commerce and Industry (OCCI). These sessions aim to educate investors, citizens and residents about the offered shares and the targeted categories.
The first information session will start on February 20 at the OCCI’s branch in the Wilayat of Sur in the Governorate of South Al Sharqiyah, while the OCCI’s branch in the Wilayat of Sohar will host the second session in the Governorate of North Al Batinah on February 21.
In cooperation with the CMA, the company will organise an expanded information session on 22 February to educate investors and brokers about the IPO. Another information session will be held in the Governorate of Al Dakhiliyah.
The OCCI’s branch in the Wilayat of Nizwa will host this session on February 23, while the OCCI’s branch in the Governorate of Dhofar will host the fifth information session on 26 February at the Directorate General of Heritage and Tourism.
