MIDEAST STOCKS-Gulf mixed as turnover shrinks; Sembcorp Salalah shines | Reuters

MIDEAST STOCKS-Gulf mixed as turnover shrinks; Sembcorp Salalah shines | Reuters:

"* Turnover falls before long Eid holidays

* But Oman's Sembcorp Salalah jumps 25 pct in debut

* Saudi banks mixed after Q3 earnings

* Dubai bounces from near technical support

* Egypt's EFG Hermes falls after co-CEO resigns

By Andrew Torchia

DUBAI, Oct 8 (Reuters) - Gulf markets were narrowly mixed on Tuesday as turnover shrank with the approach of next week's long Eid holidays, but a new listing in Oman soared in heavy turnover.

Sembcorp Salalah Power and Water, a unit of Singapore's Sembcorp Industries, jumped 24.5 percent from its initial public offer price to close at 1.98 rials, after touching a high of 2.00 rials.

A total of 11.03 million shares change hands; the company sold 33.4 million shares or 35 percent of its share capital in the IPO. GBCM Research had previously calculated a weighted fair value of 1.78 rials for Sembcorp Salalah."

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