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Oman IPO is well oversubscribed - analyst

SMN Power Holding could have raised RO45m through IPO

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Oman's IPO is ovesubscribed. (Getty Images)
Oman's IPO is ovesubscribed. (Getty Images)

The subscription to SMN Power Holding’s initial public offering is estimated at 1.6 times its RO25m share offer, the Times of Oman has reported.

Officials are not yet confirming the total subscription, saying they’re awaiting collection figures from interior branches of collecting banks, but the one market analyst estimates that cash raised through the public offer could be as high as RO45m.

The company's promoters offered a total of 6,987,246 shares to the investing public at an offer price of RO3.520 per share, including a premium of RO2.5 and an issue expense of 20 baisas. The offer was open for both Omanis and foreigners.
 

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