National Finance plans RO22mn rights issue

National Finance Company has decided to convene an extraordinary general meeting on December 14 to seek approval from shareholders for raising its paid-up capital to OMR49.68 million from OMR27.93 million by way of a rights issue of 217.6 million shares. The rights share will be issued at a price of 127 baisas, which include a […]

Golden group to issue RO200mn sukuk

The Capital Market Authority has approved a plan by Golden Group to issue sukuk to the tune of RO200mn. The sukuk will be issued in different tranches and the first issuance will be for OMR50 million by way of a private placement, said a CMA release. The first issuance is with a tenor of five […]

Oman LNG to fund two key community projects in Sur

                        In celebration of Oman’s 47th National Day, Ahmed bin Abdullah al Shuhi, Minister of Regional Municipalities and Water Resources, laid foundation stones for two key projects funded by Oman LNG in Sur. The projects include establishing a fishermen loading jetty at Al Barr […]

Muscat Desalination
MCDC IPO opens for subscription

Muscat City Desalination Company (MCDC), which is opening its initial public offering today, said the company plans to offer a projected dividend yield of 8.3 per cent for the first five years, considering the offer price of 116 baisas. This compares with the average dividend yield of 5.9 per cent for the other power and […]

ACWA Power signs agreements for extending licence

ACWA Power Barka has signed three agreements with government entities to extend its licence until December 2021, the company said. These amendment agreements are for power and water purchase agreement, water purchase agreement for the second phase and natural gas supply agreement, which have been finalised with revised terms and conditions after negotiations with Oman […]

Al Anwar to sell 9 per cent stake in Ominvest for RO31mn

Al Anwar Holdings (AAH) plans to sell its 9 per cent stake in Oman International Development and Investment Company (Ominvest) to Oman National Investment Corporation for OMR31.16 million. The company has entered into a share sale and purchase agreement with Oman National Investment Corporation (ONIC) for selling 62.943 million shares of Ominvest at a price […]

MCDC’s IPO to open on Nov 19

Muscat City Desalination Company (MCDC), which owns the Ghubrah Independent Water Plant, plans to float its RO6.31mn initial public offering (IPO) on November 19. The offer price is fixed at 116 baisas, which include a nominal value of 100 baisas, a premium of 14 baisas and an expenditure of 2 baisas per share. The company […]

Modernising waste managment
Modernising waste management

With big plans for the modernisation of its waste management operations underway, including a transfer of the existing national infrastructure to international operators, Oman is nearing completion of major reforms in the sector. The Oman Environmental Services Holding Company—also known as Be’ah—is close to completing the transfer of waste management operations in each of its […]

AkzoNobel launches ‘Sadolin Dulux’ in Oman  

  AkzoNobel, a leading global paints company, today marked a key milestone in its presence in the Sultanate of Oman with the introduction of the ‘Sadolin Dulux’ brand in decorative paints – bringing together the home-grown Sadolin brand and the global colour and innovation leader Dulux. Sadolin Dulux will offer customers in Oman with an […]

Oman Qatar Insurance steady on first day of listing

Oman Qatar Insurance Company’s (OQIC) shares closed at 160 baisas on listing on the Muscat Securities Market (MSM). The company offered shares on the Muscat bourse at the same price in one-month subscription. A total of 1.06 million shares were traded on the bourse on the first day of listing, generating a turnover of OMR168,843. […]