OQEP to launch $2bn IPO on Sept 30

OQ Exploration and Production (OQEP), Oman’s government-owned oil and gas company, is set to launch its initial public offering (IPO) on September 30, 2024. The IPO, which represents 25% of OQEP’s total issued share capital, aims to raise up to RO780mn, making it the largest IPO in Oman’s history.

The offering will include a Category I offer for institutional investors, a sale to Anchor Investors, and a Category II offer for retail investors in Oman. The subscription period opens on September 30, with trading expected to commence on October 28 under the symbol ‘OQEP’.

Six Anchor investors have committed to subscribe for 20% of the offering, with OQEP adopting a quarterly dividend distribution policy post-IPO. The company’s strong financial performance and commitment to shareholder value make it an attractive investment opportunity.

Don’t miss the chance to be part of Oman’s biggest IPO and invest in a leading oil and gas explorer and producer. Stay tuned for updates on OQEP’s exciting journey in the energy sector!