Oman utility firm launches $137m IPO

Oman utility firm launches $137m IPO:

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Oman-based Sembcorp Salalah Power & Water Company, in which a unit of Singapore's Sembcorp Industries has a 60  per cent stake, has launched its IPO offering a total of 33.4 million existing ordinary shares at a fixed offer price of RO1.590.

A leading power and water company based in the Dhofar governorate, Sembcorp Salalah said the issue, which represents 35 per cent of the issued share, is open for subscription until September 26.

The offer is open to individual investors, juristic persons and institutions within Oman, and to non-Omani investors outside of US, Canada, Australia, South Africa, Republic of Ireland and Japan, said a company statement."

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