The prospectus for OQ Base Industries’ IPO has been approved by Oman’s FSA.

OQ Base Industries’ prospectus has been approved by the Financial Services Authority (FSA), opening the door for the company to become a publicly traded joint stock company.

Muscat – As part of this transformation, the company will offer approximately 1.7 billion shares for public subscription, representing 49 percent of its capital. The value of the offering is expected to exceed RO 180 million.

The shares are being offered at a price of 111 baisas per share for the individual category, with 40 percent of the total offering allocated to retail investors. Institutional investors will be able to subscribe at a price range between 106 baisas and 111 baisas per share.

The subscription period for individual investors will begin on November 24 and run for five days, while institutional investors will have a slightly longer subscription window of eight days.

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