Thursday 27 / June / 2024
Muscat: The total number of nationalities that have invested on the Muscat Stock Exchange (MSX) has reached 135, according to the statistics issued by the bourse on its website.
The MSX is working to attract more investors by providing an integrated database on listed companies by increasing awareness of investment opportunities.
Also, the MSX is diversifying its investment tools and urging public joint stock companies listed on the stock exchange to adhere to the principles of disclosure and transparency and encouraging government companies and family-owned businesses to transform into private companies.
The capital market in the Sultanate of Oman said that the exchange is offering many investment advantages that support foreign investments.
These include relatively low tax rates, no restrictions on transferring capital and profits abroad, no restrictions on exchange operations, and the exchangeability of the Omani rial against other currencies with its link to an exchange rate.
Pegged to the US dollar, foreign investors can also invest in shares of companies or investment funds listed on the Muscat Stock Exchange without any prior permission, in addition to the presence of an independent supervisory body that guarantees a fair and stable market, protects investors’ rights, and ensures the highest levels of transparency, disclosure and integrity.
The percentage of foreign investment allowed in most public joint stock companies listed on the MSX is 100 percent.
According to statistics, foreign investments are concentrated in the industrial and services sectors at a rate of 15.8 percent and 15.7 percent, respectively.
While Gulf investors focus was on services sector and financial sector at 15.4 percent and 8 percent respectively, Arab (non-Gulf) investments mainly was in the financial sector at 3 percent.
The local investments are concentrated in the financial sector at a rate of 87.6 percent, industrial sector at a rate of 75.6 percent and the services sector at a rate of 67.7 percent.
The first half of this year witnessed an increase in the volume and value of trading.
The total value of trading rose to OMR517 million until May 2024, compared to OMR373.5 million in the same period last year, recording an increase of 38.4 percent.
The number of securities traded also increased to more than 3.1 billion securities until May 2024 compared to about 1.4 billion securities in the same period last year. The number of transactions executed jumped from 96,000 transactions to more than 106,000 transactions until the end of May 2024.
The MSX statistics further said that this growth comes in conjunction with the improved performance of the national economy and increased confidence of local and foreign institutions in government measures aimed at reducing public debt, increasing government spending on basic services, and launching a number of infrastructure projects that support local and foreign private sector investments.
The market value of public joint-stock companies listed on the stock exchange during the current year recorded gains of about OMR448.5 million, rising to OMR 9.416 billion at the end of May 2024 compared to OMR8.967 billion at the end of last year. The market value of public joint-stock companies represents about 38.5 percent of the total market value of securities listed in the stock market and rose to OMR24.478 billion by the end of May 2024, recording gains of more than OMR676 million over its level at the end of last year.
The main index of the stock exchange recorded an increase of 331 points and closed at 4,845 points at the end of May 2024.
The MSX is expected to see further gains with the Oman Investment Authority’s intention to offer several companies for public subscription during the current year. The IPOs of Abraaj Energy Services and OQ Gas Networks last year attracted more investors to the stock exchange and enhanced liquidity.
