SMN Power Holding, an Omani electricity company part-owned by Mubadala Development, advanced on its first trading day since listing on the Muscat Securities Market.
The stock ended the day at 3.63 Omani rials, up 3.1 per cent from the initial public offering (IPO) price of 3.52 rials per share.
The IPO, which had been planned since the company was formed five years ago, was 1.7 times subscribed, according to a statement from one of the company's biggest shareholders, meaning that investors placed orders for 70 per cent more shares than were available.
An Omani electricity aggregation part-owned by Mubadala Development, avant-garde on its aboriginal trading day back advertisement on the Securities Market.
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