03 April 2012
Muscat: Oman's capital market will see at least five initial public offerings this year, said a senior official of the Muscat Securities Market (MSM). These primary issues will be floated by Bank Nizwa, Al Izz Bank International, Oman Arab Bank and Al Khalili group.
Bank Nizwa is planning to raise RO60 million, while Al Izz Bank issue will be to the tune of RO40 million.
The size of Oman Arab Bank issue is not yet determined. OAB's two partners earlier said that they are diluting 25 per cent of their stake in the bank in favour of investing public.
Ahmed Said Kashoob, Chief Executive Officer of Global Trust Investment, said that Al Khalili group, which postponed its initial public offering last year, is planning to tap the market. According to Kashoob, Bank Nizwa's IPO will open for subscription in the third week of this month. The bank is expected to offer 600 million shares, each with a face value of 100 baisas to raise RO60 million.
Foreign investment
Meanwhile, foreign participation in the Muscat Securities Market edged down by 0.51 per cent at 23.8 per cent by end-December 2011, from 24.3 per cent for the same period of last year.
MSM chairman Hassan bin Ali Jawad stated that the performance of MSM was to a large extent similar to other capital markets. "Trading volume continued to fall for the second year running to reach around RO981 million in 2011, from RO1.31 billion for the previous year, thus posting a decline of 22.9 per cent."
The Muscat Securities Market general index, better known as MSM 30, plunged by 15.7 per cent to close at 5695 points by end-December 2011, from 6754 points for the same period of 2010. The same trend applied to the market capitalization of the listed securities, which declined by 5.1 per cent to touch RO10.3 billion by end-December 2011, from RO10.9 billion in 2010.
AGM of MSM approved annual report, auditors report and appointed auditors for the current year.
Muscat: Oman's capital market will see at least five initial public offerings this year, said a senior official of the Muscat Securities Market (MSM). These primary issues will be floated by Bank Nizwa, Al Izz Bank International, Oman Arab Bank and Al Khalili group.
Bank Nizwa is planning to raise RO60 million, while Al Izz Bank issue will be to the tune of RO40 million.
The size of Oman Arab Bank issue is not yet determined. OAB's two partners earlier said that they are diluting 25 per cent of their stake in the bank in favour of investing public.
Ahmed Said Kashoob, Chief Executive Officer of Global Trust Investment, said that Al Khalili group, which postponed its initial public offering last year, is planning to tap the market. According to Kashoob, Bank Nizwa's IPO will open for subscription in the third week of this month. The bank is expected to offer 600 million shares, each with a face value of 100 baisas to raise RO60 million.
Foreign investment
Meanwhile, foreign participation in the Muscat Securities Market edged down by 0.51 per cent at 23.8 per cent by end-December 2011, from 24.3 per cent for the same period of last year.
MSM chairman Hassan bin Ali Jawad stated that the performance of MSM was to a large extent similar to other capital markets. "Trading volume continued to fall for the second year running to reach around RO981 million in 2011, from RO1.31 billion for the previous year, thus posting a decline of 22.9 per cent."
The Muscat Securities Market general index, better known as MSM 30, plunged by 15.7 per cent to close at 5695 points by end-December 2011, from 6754 points for the same period of 2010. The same trend applied to the market capitalization of the listed securities, which declined by 5.1 per cent to touch RO10.3 billion by end-December 2011, from RO10.9 billion in 2010.
AGM of MSM approved annual report, auditors report and appointed auditors for the current year.
© Times of Oman 2012
