Oman’s OQ Gets $2 Billion in Orders for $244 Million Abraj IPO - Bloomberg
One of Oman’s main energy firms raised $244 million from the initial public offering of its oil-drilling unit, pulling off Muscat’s largest listing in more than a decade and drawing in Saudi Arabia’s wealth fund as an anchor investor.
Investors placed $2 billion of orders for the IPO of Abraj Energy Services, the latest sign of strong demand for deals in the energy-rich Gulf.
State owned OQ SAOC set the final price at 249 baizas a share, the top end of an offer range that started at 242 baizas. Trading is due to start on March 14.
The listing will follow that of Adnoc Gas. The Abu Dhabi company drew orders worth $124 billion for its $2.5 billion IPO last week, the biggest so far this year.
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