#Oman's sovereign wealth fund considers IPO for water company Majis Industrial Services | Reuters

Oman's sovereign wealth fund considers IPO for water company Majis Industrial Services | Reuters

Oman's sovereign wealth fund, the Oman Investment Authority (OIA), is considering a public share-sale for water company Majis Industrial Services, two sources close to the matter said.

The OIA has invited banks to pitch for roles in Majis' initial public offering, said the sources, declining to be named as the matter is not public.

The OIA and Majis did not respond to Reuters' requests for comment.

The OIA, which holds $17 billion worth of assets according to the Sovereign Wealth Fund Institute, was created in 2020 when two of the sultanate's wealth funds – State General Reserve Fund and the Oman Investment Fund – were merged into one entity.

Oman aims to list 35 state-owned enterprises in the next five years and plans to take one or two oil companies public this year, the CEO of the Muscat Stock Exchange told CNBC Arabia in March.