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Thursday, 20 April 2017

Amid Aramco IPO Plans, Oman Oil Prepares Its Own - Bloomberg

Amid Aramco IPO Plans, Oman Oil Prepares Its Own - Bloomberg:

"Oman Oil Co., the sultanate’s state-owned energy producer, is seeking advice from banks to sell some energy assets and list units on the local stock market, following plans by its larger peer Saudi Arabian Oil Co. to offer shares to the public.

The oil and gas producer, which has stakes in overseas businesses, plans to sell some energy assets, Oman Oil Minister Mohammed Al Rumhy said in an interview in Abu Dhabi. The company is also considering an initial public offering of shares for some units on Oman’s stock market, he said. He didn’t identify the banks.

“We are looking at the IPO option because we want to give a boost to the local stock market, and we want to see more foreign direct investments coming to the country,” he said. "

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