Oman IWPP hits the market with $64m IPO
- From: Vol 12, Issue 9 (September 2011)
- Category: General
- Region: Middle East
- Country: Oman
- Related Companies: Bank Muscat, Doosan, General Electricity & Water Corporation (Kahramaa), Mubadala Development Co, National Trading Co and SMN Power Holding Co
The largest power and water supplier in Oman has initiated bookbuilding ahead of a 35% stock sale. A $100 million construction dispute is thought to be behind the year-long delay in listing.
Individual investors are being given the chance to put money into Oman’s largest water and power plant owner via an IPO that values the company at just under OMR70 million ($181 million).
SMN Power aims to raise OMR24.5 million ($63.5 million) by selling close to 7 million shares, which will be listed on the Muscat Securities Market ...
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