Cheap Sohar IPO blows out
- From: Vol 9, Issue 8 (August 2008)
- Category: General
- Region: Middle East
- Country: Oman
- Related Companies: Bank Muscat, Sogex Oman, Sohar Power Company , WJ Towell & Co and Zubair Corporation
The sale of a 35% stake in the Sohar Power Company drew demand of USD735 million. The deal values the company’s equity at a mere USD98.6 million.
Sohar Power Company’s IPO closed on 30 July, marking Oman’s most successful public share offering in the power sector to date. Both retail and institutional investors rushed to snap up the 9,730,000 shares at OMR1.37 (USD3.55) each for a 35% stake in the company which owns and operates the 150,000m3/d and 586MW ...
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