Oman India Fertiliser Company (OMIFCO), a joint venture between ​Oman and ⁠India focused on the production of ammonia and urea, is planning ‌to offer a 25% stake in an initial public offering in Muscat, the ​company said in a statement on Tuesday. The IPO could be the first public ​listing of ​the year in Oman, and one of the first in the region since the start of the U.S.-Israeli war with Iran.

* ⁠Oman's state energy firm OQ owns a 50% stake, while Indian Farmers Fertiliser Cooperative and Krishak Bharati Cooperative own 25% each.

* All shares on offer by the three selling shareholders are existing ordinary shares. ​A listing ‌in Muscat is ⁠expected next month.

* ⁠The Middle East is a leading hub for the production of fertilizers, whose ​global prices have jumped following the near-total closure ‌of the Strait of Hormuz during the ⁠war.

* The company has not been impacted by the war, CEO Ahmed Said Al Marhoubi said, noting its operations sit outside the Strait.

* OMIFCO operates two ammonia and two urea plants in Oman with a capacity of around 1.15 million tons per annum (mtpa) and 1.65 mtpa, respectively.

* It expects revenue to rise 40% in the second quarter, Al Marhoubi said, citing higher global prices.

* OMIFCO ‌might consider an expansion to double capacity for both ⁠fertilisers, although no final investment decision has ​been made.

* The company posted revenue of $207.4 million in the first quarter and expects to distribute total dividends of around $185 million for the 2026 financial ​year.

* Bank ‌Muscat and Societe Generale are joint global coordinators for ⁠the offering.

(Reporting by Federico ​Maccioni; Editing by Bernadette Baum, Thomas Derpinghaus and Tomasz Janowski)