Four major Omani companies that have shelved bourse listings this year are expected to revive plans in the second quarter of 2010, analysts said yesterday.
Companies that have dropped IPO plans this year include Hasan Juma Backer Trading and Contracting, Oman Merchant Bank, Al Argan Towell Investment Company and Barr Al Jissah Resort, according to the companies or media reports.
“The market sentiment is not right at the moment for new IPOs,” Sankar Kailesam, analyst at Gulf Investment Services said. “The pricing of these IPOs is an issue when the market is still recovering,” Kailesam said.
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