Tanmia Liquidity Fund launched to enhance liquidity at MSX

Muscat: The "Tanmia Liquidity Fund " was inaugurated at the Muscat Stock Exchange today. The fund, which has a value of USD 126 million, is dedicated to enhancing market depth and boosting liquidity on the exchange while achieving long-term capital growth for the fund.

Oman National Investment Development Company "Tanmia," a leading investment and fund management company, will act as the investment manager in collaboration with SICO BSC (c), a leading regional asset manager, broker, and investment banking services.

The timing of the fund's launch aligns strategically with the ongoing reforms within the Omani capital markets, coinciding with announcements of new IPOs, regulations pertaining to market making, and intensified marketing endeavors by MSX through roadshows and other promotional activities. In recent months, the MSX has undergone a series of initiatives geared towards bolstering the local capital markets, and there has been a notable reform in certain capital market regulations, particularly concerning the dividends tax.

Khalid Awadh Al Balushi, CEO of Tanmia, emphasized that this project marks a milestone in Tanmia's long journey with its strategic partners to launch “Tanmia Liquidity Fund”, which will expand the investor base and enhance liquidity in local financial markets.

On her turn,SICO’s Group CEO, Najla Al Shirawi, commented, "The launch of “Tanmia liquidity Fund” underscores the joint efforts of SICO and our partners in Oman, backed by the regulatory authorities in the Sultanate of Oman. We're grateful to our partners for their confidence in our abilities and dedication to improving the liquidity for shares of listed companies. Highly liquid financial markets are essential in providing tangible advantages to the national economy. A robust and dynamic capital market can significantly increase economic growth and promote a more diversified economy.”