GulfBase Live Support
Leave a message and our representative will contact you soon
29/10/2014 05:54 AST
Al Maha Ceramics, which raised OMR155.34 million from investing public for its OMR7.9 million public issue, has allotted a minimum of 200 shares and thereafter at the rate of three per cent for additional shares applied in the case of retail applicants.
As far as mutual funds are concerned, the share allotment is four per cent, said a top-level official at the Capital Market Authority (CMA).
The initial public offering was subscribed to the tune of 19.5 times - 17.3 times in the case of retail investors and 24.7 times in the case of mutual funds, which was the second category. As many as 34,851 investors applied for the share offer. The shares will be listed on the Muscat Securities Market on November 3.
Sources said that refund of excess money to investing public has already been started and will be completed by Wednesday.
Al Maha offered 20 million shares or 40 per cent of its paid up capital at 397 baisas per share - 295 baisas premium and two baisa issue expenses.
As much as 70 per cent of the shares were reserved for individuals applied for 100,000 shares or less, while the remaining 30 per cent was allocated to local mutual funds.
Al Maha Ceramics has projected a cash dividend of 35 per cent for 2014, which is payable by March 2015. The company, which has an installed capacity of six million square metres per annum, is running close to 100 per cent capacity utilisation. The capacity utilisation was 102 per cent and 104 per cent in 2013 and 2012, respectively.
Al Maha Ceramics, which has a strong presence in the Gulf Cooperation Council (GCC) markets, sells 55-60 per cent of its total production in the local market. Apart from GCC markets, the company exports its products to Yemen and Jordan as well.
However, as much as 64 per cent of the company's revenue comes from domestic market.
Times of Oman
20/04/2015
Al Maha Ceramics, a leading tile brand in the GCC, launched its latest range of new décor tiles at the recent Big Show 2015, a major event for professionals in the building and construction industry,
Trade Arabia
03/11/2014
Muscat Securities Market (MSM) will start listing Al Maha Ceramics shares on Monday at 10am.
Ahmed bin Saleh Al Marhoon, director general of MSM, has recently issued a decision in respect
Times of Oman
02/10/2014
Investors continue underwriting Al Maha Ceramics with the end of the second week of the subscription period, which ends on October 15.
Underwriting banks recorded an increasing number of req
ONA
Ticker | Price | Volume |
---|
Ticker | Price | Change |
---|---|---|
ALPHADHABI | 11.14 | -0.04 (-0.36 |
IQCD | 12.35 | -0.18 (-1.44 |
ADNOCLS | 4.63 | 0.01 (0.21 |
NMDC | 23.86 | -0.84 (-3.41 |
ADPORTS | 4.02 | 0.03 (0.75 |
29/04/2025
China's state-run Sinopec said on Monday it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company aimed at operating ports, transporting crude oil, and providing ot
Asharq Al Awsat
29/04/2025
Gulf Bank has officially released its Fifth Annual Sustainability Report for the year 2024, titled "From Vision to Execution", highlighting the Bank's advancements in sustainability in line with Kuwa
Kuwait Times
29/04/2025
In an interview with CNBC International, Shaikha Al-Bahar, Deputy Group Chief Executive Officer of National Bank of Kuwait (NBK) affirmed the Group's commitment to maintaining excellence and fosterin
Kuwait Times
29/04/2025
Borouge today announced a series of strategic asset expansion projects to accelerate its growth, contributing annually between $165 million and $200 million (AED600 million - AED730 million) in EBITD
Trade Arabia
29/04/2025
Saudi developer Emaar, The Economic City has signed final agreements with four local banks to reschedule SR3.39 billion ($904 million) in existing debt and secure a new credit facility.
In a
Arab News