#Oman’s Abraj Energy Services opens IPO

Oman’s Abraj Energy Services opens IPO

Oman’s Abraj Energy Services, a subsidiary of global integrated energy group OQ, has opened its initial public offering, putting up 49 percent (377,398,000 shares) of the issued capital of the company for sale.

The offering allocated for the first category runs from February 20 until March 2, whereas the subscription in the second category runs from February 20 until March 1, reported Oman News Agency (ONA).

The shares of Abraj Energy Services are put for sale in an IPO as part of the divestment plan announced by Oman Investment Authority (OIA) to exit some governmental investments to provide investment opportunities for Omani and foreign investments to achieve the objectives of Oman Vision 2040.

This step aims to promote the private sector’s participation in various economic sectors at the national level. The IPO will also enhance economic diversification policies and attract investors from Oman and abroad.