Times of Oman | News :: Oman plans to divest stake in 11 state-owned companies:
"Oman government is planning to divest its stake in as many as eleven state-owned companies via initial public offerings in an apparent move to spur stock market trading and pass on the benefits of corporate earnings to the nationals.
"His Excellency Darwish bin Ismail Ali Al Balushi, minister responsible for financial affairs, stated that 11 companies will be floated in the market, probably not all of them this year," Sheikh Abdullah bin Salem Al Salmi, Executive President of Capital Market Authority (CMA), told the Times of Oman in an exclusive interview.
He said that the CMA is working with the Ministry of Finance to work on a plan to decide on the companies as well as the timing for floating the issues. "So, it is easy for investors and the market (in general) to get to know which firm is coming out with an issue and at what point of time."
The Capital Market Authority chief also noted that the state-owned companies that plan IPOs are non-listed, but declined to name the companies."
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