EFG Hermes carry out first IPO on Omani bourse | ZAWYA MENA Edition

EFG Hermes carry out first IPO on Omani bourse | ZAWYA MENA Edition:

EFG Hermes on Wednesday announced the completion of Dhofar Power Company’s initial public offering (IPO) on Muscat Securities Market at a total value of $52 million.

The leading investment bank was the global coordinator and bookrunner of the IPO, while Bank Dhofar acted as the placement manager, the Egyptian firm highlighted in a statement.

The bank’s first implemented transaction in the Omani market is part of its expansion strategy, Mohamed Ebeid, Co-CEO of EFG Hermes, said.