RIYADH: Oman’s wealth fund is looking to float two units of state-owned energy firm OQ SAOC and a manufacturing company in an initial public offering, Bloomberg reported.
The share sales come amid efforts by the Oman Investment Authority to exit state assets in order to bolster the country’s capital market and keep up with neighbours in the Gulf.
It plans to pull out of some Omran hotels and resorts as well as two Asyad projects.
The Gulf is currently witnessing a boom in listings supported by strong oil prices, especially in Saudi Arabia and the UAE.
Earlier this year, Haitham Al Salmi, Muscat stock exchange’s CEO, said the Omani bourse is expected to see 200 new listings.
