Oman’s Sembcorp Salalah Power & Water Company launches USD 137mn IPO

By bne IntelliNews August 28, 2013

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

Ankara and Tehran join wave of anger directed at Trump’s recognition of Jerusalem as Israel’s capital

US President Donald Trump's December 6 announcement that his administration has decided to unilaterally recognise Jerusalem as Israel's capital was described as “against international law” by ... more

Islamic State is finished declares Iran's President Rouhani

Iranian President Hassan Rouhani on November 21 declared the end of the so-called Islamic State militant and terrorist group following decisive battles in Iraq and Syria. Stating that he wished to ... more

Turkey the loser as Baghdad rewards Iran with control of Kurdish oil exports

Iran is taking control of oil exports from Iraqi Kurdistan's giant Kirkuk field with Baghdad authorising the move as a reward for the Iranians' help in quelling the Kurds' late September push for ... more