Oman turns stock exchange into closed joint stock company

It will be called the Muscat Stock Exchange

  
Image for illustrative purpose only. An investor works on his computer above the trading floor of the Muscat Securities Market (MSM) in the Commercial Business District of Ruwi in Muscat

Image for illustrative purpose only. An investor works on his computer above the trading floor of the Muscat Securities Market (MSM) in the Commercial Business District of Ruwi in Muscat

REUTERS/STR New

DUBAI- Oman's stock market, the Muscat Securities Market, has been converted into a closed joint stock company and put under the ownership of the state-owned Oman Investment Authority, state media said on Wednesday.

It will be called the Muscat Stock Exchange and all assets and employees of the Muscat Securities Market will be transferred to that new entity, Oman news Agency said.

Oman established the Oman Investment Authority in June to own and manage most of the country's sovereign wealth fund and finance ministry assets.

(Writing by Lisa Barrington; Editing by Jon Boyle) ((lisa.barrington@thomsonreuters.com;))

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