Please wait...
GulfBase Live Support
- Lebanon receives preliminary approval to increase World Bank loan to $400m
- China Exempts Some Goods from US Tariffs to Limit trade War Pain
- Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as 9th year milestone marked
- Foreign investors remain net buyers of GCC stock market in first quarter
- Quarterly earnings announcement, tariff hold supports QSE index rise
- Gold prices drop more than 1%
- Saudi Arabia's Vision 2030 enters final phase with strong momentum
- Saudi Arabia takes part in European Economic Congress
- UAE jobs: Etihad Airways to hold career fair for Emiratis on May 22
- Adnoc Distribution to operate 500 high-power EV chargers by 2028
14/06/2015 18:13 AST
The flotation of Phoenix Power Co, owner of Oman's largest power plant, has been heavily oversubscribed, attracting over RO1 billion ($2.6 billion) of bids from investors, the state-run Oman News Agency (ONA) reported on Sunday.
The company sought to raise RO56.3 million ($146.3 million) by offering a 35 per cent stake in an offer open to both local and international investors, which ran until June 8.
ONA said the shares were expected to start trading on Oman's bourse on June 22.
Phoenix Power is a vehicle which owns, maintains and operates the Sur Independent Power Project, which generates 2,000 megawatts of electricity and was officially inaugurated in April.
Prior to the IPO, which was arranged by Bank Muscat , Phoenix Power was owned by a consortium consisting of Marubeni Corp, Chubu Electric Power Co, Qatar Electricity & Water Company and local firm Multitech.
Its offer was the first public share sale in Oman since the flotations last June of power firms Al Suwadi Power Co and Al Batinah Power Co.
Reuters
04/06/2017
Phoenix Power Company SAOG, which owns and operates the giant 2,000 MW Independent Power Project (IPP) in Sur, has announced that it has agreed to pay $11.8 million to South Korean engineering contra
Oman Daily Observer
22/06/2015
Shares of Phoenix Power, which floated an initial public offering (IPO) of OMR56.3 million, will be listed on the Muscat Securities Market on Monday.
The company has allotted a minimum of
Times of Oman
09/06/2015
Heavy oversubscription is seen in Phoenix Power Company's initial public offering (IPO), which closed its one-month subscription on Monday.
The shares have been priced at 110 baisas per s
Times of Oman
| Ticker | Price | Volume |
|---|
26/04/2025
Adnoc Distribution, a leading fuel distributor and convenience store operator, has unveiled plans for a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging p
Trade Arabia
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia