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27/04/2014 19:06 AST
The shares of Oman Telecommunications (Omantel) plummeted 4.7 per cent to close at OMR1.420, amid listing of 142.5 million new shares on the Muscat Securities Market.
The company has allotted 71.15 million shares each to Omani institutions and individual investors in a government divestment programme of 19 per cent stake in the premier telecommunications firm.
The retail investors have received an allotment of 95.02 per cent of the shares applied for at an offer price of OMR1.350, while the offer price for institutional investors was OMR1.511.
The public offer received in excess of 20,600 applications, which was one of the highest in recent times. As many as 20.99 million shares changed hand on MSM and the turnover touched OMR29.81 million.
On an overall basis, which include private placement, the Ministry of Finance received applications for 216.7 million shares against 142.5 million shares offered as part of the Omantel divestment programme.
This amounts to an overall oversubscription with applications received for 1.52 times of the number of shares offered.
Times of Oman
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
STC | 83.41 | 257,644 |
DARALARKAN | 13.47 | 74,648,349 |
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