Oman-based Sembcorp Salalah Power & Water Company has initiated an OMR 53mn (USD 137mn) IPO, offering 33.4mn existing ordinary shares at OMR 1.59 per share price, Singapore's Sembcorp Industries, which owns a 60% stake in the company, said in a statement.
The IPO, which represents 35% of the issued share, is open for subscription until September 26. The offer is open to individual investors, juristic persons and institutions within Oman, and to non-Omani investors outside of US, Canada, Australia, South Africa, Republic of Ireland and Japan, Sembcorp said. The shares will be listed for trading on the Muscat Securities Market on October 10.
Oman Investment Corporation (OIC) owns a 35% stake in the utilities firm and Bahrain-based BDCC Investment Company owns 5%. Post listing, Sembcorp will hold a 40% stake in Sembcorp Salalah, while OIC and BDCC will hold 21.9% and 3.1% respectively. HSBC Bank Oman is the issue manager, while the collecting banks are Bank Muscat, Oman Arab Bank, National Bank of Oman and Bank Dhofar.
Related Articles
Egypt brings new gas well online with 10mn cubic feet/day output
Egypt’s Ministry of Petroleum and Mineral Resources is finalising procedures to bring a new natural gas well, North El-Basant-1, into production with an expected output of around 10mn cubic feet ... more
Tunisia kicks off stalled expansion of solar projects with 1.3GW capacity push
Tunisia is finally accelerating the deployment of its large-scale photovoltaic (PV) sector after years of slow progress, with construction now underway across multiple major projects, PV-Magazine ... more
Shell and Petronas seek 20% gas price increase for Egypt’s West Delta marine phase
UK energy major Shell (LON:SHEL) and Malaysia's national oil and gas company Petronas have asked the Egyptian Natural Gas Holding Company (EGAS) to raise the gas price for the upcoming Phase 12 ... more