Category: COMPANIES

COMPANIES
CMA
Al Ahlia IPO gets encouraging response

Al Ahlia Insurance Company’s initial public offering, which opened for subscription on July 4 2017, has been very well received by the market and attracted positive feedback from investors following the company’s meetings with some of the most influential investors and research analysts in the Sultanate. Following the successful meeting of the company’s management with […]

Banking & Finance
MSM
CMA reviews approval norms of insurance products

Oman’s Capital Market Authority (CMA) has organised a workshop to review the directives for insurance products and an approval mechanism. The event was attended by representatives of national and foreign insurance firms operating in the Sultanate as a prelude for the implementation of updated directives. The workshop highlighted the key legal requirements from insurers on […]

Muscat Gases to sell stake in firm to Air Products

Muscat Gases Company said its shareholders have approved a proposal to set up United Industrial Gases Company LLC and transfer the company’s industrial gas business to the new limited liability firm. Muscat Gases will sell 70 per cent of the issued share capital in United Industrial Gases to Air Products Leasing B V in line […]

COMPANIES
Duqm 2
OTTCO to develop Ras Markaz crude oil storage terminal

The Special Economic Zone Authority at Duqm (Sezad) has granted Oman Tank Terminal Company (OTTCO) a usufruct right to construct Ras Markaz crude oil storage terminal. OTTCO is one of Oman Oil Company’s subsidiaries, the investment arm for the Sultanate of Oman in the field of oil and gas industry. The agreement was executed on […]

COMPANIES
MSM
Oman Hotels plans to buyback shares from minority shareholders

The majority shareholders of Oman Hotels and Tourism Company plan to buyback the company’s shares from minority shareholders who own 50,000 shares or less. The offer price is fixed at 436 baisas per share, and is valid from May 30 to June 29, 2017, according to a disclosure statement posted on the MSM website. This […]

COMPANIES
MEDC
MEDC shares to be offered to institutional investors; IPO to follow

    Nama Holding will invite Omani institutional investors to sell shares in Muscat Electricity Distribution Company (MEDC) within the next few days, according to a press release. This will be followed by an initial public offering for retail investors, which will be the second phase of the share offer. MEDC is a subsidiary of […]

COMPANIES
Bank Dhofar-1
BankDhofar names new chief executive officer

BankDhofar announced Abdul Hakeem Omar Al Ojaili as the chief executive officer of the bank. Abdul Hakeem Al Ojaili took over the leadership role of acting chief executive officer of the bank in October 2013. He has 26 years of banking experience, a Master Degree in Banking Management from University of Exeter, UK and a […]

COMPANIES
MSM
Muscat bourse reconstitutes Sharia Index

Oman’s Muscat Securities Market has re-constituted its Sharia Index by replacing two companies in the basket with new firms. The companies that are newly included in the index are Oman Flour Mills and Takaful Oman Insurance, while National Biscuit Industries and Oman Refreshment have been removed from the basket of stocks that constitute the index, […]

COMPANIES
MSM
Listed companies distribute RO418mn dividend

Listed firms on the Muscat Securities Market have announced that they will distribute OMR417.6 million worth of dividend to their shareholders. The cash dividends approved by the annual general meetings that were held in March stood at about OMR360 million. Still, a number of companies announced that they will distribute interim cash dividends in the […]

COMPANIES
Zubair SEC
Zubair SEC, CA Group sign MoU

With the aim to enhance members’ capacities and professionalism, and provide cross selling opportunities for its members, Zubair Small Enterprises Centre (Zubair SEC) and CA Group Company have signed a memorandum of understanding (MoU). The cooperation between the two parties was signed in the presence of executive representatives of Zubair SEC and CA Group company. […]



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