OQ Exploration and Production SAOG (OQEP) has announced its Initial Public Offering (IPO) on the Muscat Securities Market (MSX), with the prospectus approved by the Financial Services Authority of Oman.

 

OQEP plans to offer 25 per cent total share capital, retaining 75 per cent post-offering. Shares are expected to be listed and traded on the MSX on 28 October 2024, pending market conditions and regulatory approvals.

 

Ashraf Hamed Al Mamari, Group CEO of OQ, expressed his enthusiasm: “We are pleased with the FSA's approval of the prospectus for the public offering of 25 per cent of OQ Exploration and Production’s shares. This marks the largest IPO in Oman’s history and is the first of its kind in the exploration and production sector, following successful listings of Abraj Energy Services and OQ Gas Networks.”

 

Ahmed Al-Azkawi, CEO of OQEP, added: “We are delighted to announce the receipt of the FSA Administrative Decision and the issuance of the Prospectus for our upcoming IPO. It provides potential investors with comprehensive insights into our operations, exceptional track record, and growth prospects. We’re proud to offer a Shariah-compliant investment opportunity in a leading Omani oil and gas producer.” -TradeArabia News Service