Book-building, a novel route for pricing a new equity issue and introduced for the first time on Muscat's bourse through Nawras's Initial Public Offering (IPO), is expected to catch on in the Sultanate, according to a top executive of global financial services firm Morgan Stanley.
Klaus Froehlich (pictured), Executive Director of Morgan Stanley and Head of Global Capital Markets for the Middle East, said the Nawras IPO will set a major precedent for the launch of new issues based on the book-building route -- a process of determining the price at which an IPO will be offered.
Nawras's IPO opened on September 15 with a price range set at 702 baisas to 902 baisas. The final share price will be determined on the basis of the book-building process and is expected to be announced on October 24.
No comments:
Post a Comment