Oman Oil Co plans 20%-25% share sale in 2020: oil minister - Reuters:
State-owned Oman Oil Co expects to list 20%-25% of its shares in an initial public offering (IPO) by the end of next year, Oman’s Oil Minister Mohammed al-Rumhi said on Wednesday.
It would become the second national oil company in the Gulf to raise cash this way after Saudi Aramco’s planned IPO later this month to help diversify the economy away from oil.
Oman is trying to raise funds from asset sales because lower oil prices have led it to pile up debt over the past few years.
It posted a budget deficit of 1.545 billion Omani rial ($4 billion) in January to September.
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