Home Industry Energy Oman wealth fund considers IPOs of state energy firm OQ’s units The share sales are part of Oman Investment Authority’s plan to exit state assets in a bid to bolster the country’s coffers and expand its stock exchange by Bloomberg June 16, 2022 Oman is considering an initial public offering of two units of state energy company OQ SAOC and a manufacturing firm as the sultanate seeks to catch up with an IPO boom in neighbouring Saudi Arabia and the UAE. The share sales are part of Oman Investment Authority’s plan to exit state assets in a bid to bolster the country’s coffers and expand its stock exchange, according to its statement on twitter. It plans a full and partial exit of a number of Omran hotels and resorts, and two Asyad projects. As part of #OIA's contribution towards the realization of #OmanVision2040, to achieve economic diversification, decrease oil dependence, and empower the private sector, we are announcing the commencement of OIA's national exit plan with 6 national assets in various sectors. pic.twitter.com/RnMRBZKUBe — Oman Investment Authority جهاز الاستثمار العماني (@Oman_OIA) June 15, 2022 The potential Omani IPOs come at a time when the Middle East is enjoying an unprecedented listings boom fueled by high oil prices, equity inflows and a drive by regional governments to list state-owned assets. IPOs in the region have raised $13.4bn in the first five months of the year, already eclipsing the amount raised in any other first half, data compiled by Bloomberg show. Oman hasn’t had a major IPO since 2010 when telecom operator Nawras, now known as Ooredoo Oman, raised $475m. In March, Muscat Stock Exchange’s chief executive officer Haitham Al-Salmi said that Oman is planning to list 35 state-owned enterprises over the next five years, with one or two oil companies to potentially list this year. Read: Oman to split sovereign wealth fund into two portfolios Tags energy IPO Oman 0 Comments You might also like Oil jumps over 2% amid further Red Sea vessel attacks How REITs are unlocking the potential of UAE real estate Top marks for GCC nations in digital connectivity index Angola leaves OPEC in blow to oil producer group