DUBAI, June 14 (Reuters) - The flotation of Phoenix Power Co IPO-PHOP.OM , owner of Oman's largest power plant, has been heavily oversubscribed, attracting over 1 billion rials ($2.6 billion) of bids from investors, the state-run Oman News Agency (ONA) reported on Sunday.

The company sought to raise 56.3 million rials ($146.3 million) by offering a 35 percent stake in an offer open to both local and international investors, which ran until June 8. ID:nL5N0Y10MB

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 BMAO.OM , Phoenix Power was owned by a consortium consisting of Marubeni Corp 8002.T , Chubu Electric Power Co 9502.T , Qatar Electricity & Water Company QEWC.QA 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 SUWP.OM and Al Batinah Power Co BATP.OM . ($1 = 0.3850 Omani rials)

(Reporting by Olzhas Auyezov; Editing by David French) ((olzhas.auyezov@thomsonreuters.com; +971 56 225 4871; Reuters Messaging: olzhas.auyezov.thomsonreuters.com@reuters.net))

Keywords: OMAN IPO/PHOENIX POWER