FSA approves OQEP shares’ allocation ratios

Muscat: The Financial Services Authority (FSA) has approved the allocation ratios of OQ Exploration and Production (OQEP) company’s shares after the subscription saw a 2.4 times coverage of the offered shares totalling about OMR1,814 million after the calculation of the share value at 390 baisas.

The Authority pointed out that the volume of shares collected stood at about 4,820 million, out of a total of two billion shares offered for public subscription.

This, the FSA affirmed, reflects the confidence of local and foreign investors in the issuing company and the Omani capital market.

It also underlines the attractiveness of the national economy in general, it added.