Oman may lower IPO float size to 25%

04/05/2011 00:00 AST

Oman may revise a law that would allow companies to float just 25 percent of their capital from 40 percent now to prompt more family firms to list, a Capital Markets Authority (CMA) official said.

“We are considering to reduce IPO issues to 25 percent from 40 percent to encourage family businesses to convert to listed companies,” Yahya Al-Jabri, CMA executive president, told Reuters.

Oman Arab Bank, which is 51-percent-owned by Ominvest, is the latest Omani firm to indicate it will seek a listing, according to a local newspaper report.

Ominvest shares rallied to a two-year high on the news on Monday before shedding gains in Tuesday’s session.

Ominvest said in a statement that shareholders of Oman Arab Bank, Ominvest and Bahrain’s Arab Bank, which owns the rest of OAB, would meet shortly to discuss the possible listing.


Reuters

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683

Stock Market Info

MSM 4,794.61 19.33 (0.40%)

Valuation

Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Index Chart

Top Related Companies

Ticker Price Change
BKMB 0.38 0.00 (0.52%)
NLIF 0.32 0.00 (0.00%)
OTEL 0.88 0.00 (0.00%)
BKDB 0.20 0.00 (0.00%)
ORDS.MSM 0.50 0.00 (0.00%)

Recent News

Foreign investors pile into Saudi Arabia in March amid kingdom's FTSE upgrade

05/04/2018

Foreign investors bought $1.18 billion in Middle East and North African equities in March, especially Saudi ones amid the kingdom’s upgrade to emerging market status by FTSE Russell, according to a r

The National

Muscat bourse gains lifted by activity in financial shares

05/04/2018

Buying activity in financials lifted the MSM30 Index to 4,794.61 points, up 0.41 per cent. The MSM Sharia Index closed at 676.52 points, down 0.08 per cent. Gulf Investment Services was the most acti

Times of Oman

Dubai bourse takes a hit in traded value

05/04/2018

Traded value on the Dubai Financial Market tumbled on Wednesday as global stocks declined amid an intensifying US-China trade war. In Abu Dhabi, banking shares surged ahead of first quarter results s

Gulf News

Financial blue chips drive Muscat bourse recovery

04/04/2018

Driven by financial blue chips, the MSM30 Index continued its recovery to close at 4,775.27 points, a gain of 0.53 per cent. The MSM Sharia Index ended at 677.06 points, down 0.07 per cent. HSBC Bank

Times of Oman

Emaar Properties stock hits new one-year low

04/04/2018

Emaar Properties shares extended losses for another session on Tuesday, to hit their lowest level in a year, as selling continued on the wider Dubai gauge. Emaar Properties fell to a low of Dh5.58, b

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap