Salalah power IPO likely in Sept-Oct this year

09/06/2013 10:55 AST

Sembcorp Salalah Power and Water Company, which owns and operates the $1 billion Salalah independent water and power project (IWPP), is planning to float an initial public offering in September-October period this year.

The promoters of Salalah IWPP, which started full operation last year, are diluting their 35 per cent stake in line with a contractual commitment with the government, which stipulates that the IPO has to be floated within a certain period of signing the agreement.

The company officials have already started discussion with the Capital Market Authority (CMA) for the issue.


Times of Oman

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