Nawras, the Omani phone company selling shares in an initial public offering, has a fair value of as much as 911 ($2.36) baisas a share, National Bank of Oman SAOG estimates. That is above Nawras’ price range.
The company, controlled by Qatar Telecom QSC, set a range of 702 baisas to 902 baisas a share in its book-built IPO that opened Sept. 15 and will run for a month. National Bank of Oman sees a fair value of at least 781 baisas a share.
The share is “a good buy for the long-term, given the perceived growth of the business and the high dividend payout expectation,” National Bank of Oman said in a research report dated Sept. 27 and obtained by Bloomberg News today.
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