Oman's national oil company, OQ, plans to list more subsidiaries on the stock exchange after a successful IPO program that reduced debt and boosted investment.
OQ, the national oil company of Gulf producer Oman , plans to put more of its subsidiaries up for stock listing, following the record-breaking IPO of its OQ Exploration and Production Company earlier this year, a senior executive told Bloomberg in an interview. In October, OQ Exploration and Production Company
, Oman’s wholly-state-owned upstream oil and gas operator, raised $2.03 billion from its IPO which was the largest ever for the Gulf oil nation and the biggest in the region so far this year. sold 2 billion shares in the IPO during the subscription period, representing 25% of the company’s total issued share capital.
’s record-breaking listing in October was 2.4 times oversubscribed with orders amounting to about $4.7 billion. The offering that raised $2 billion from 25% of ’s shares valued Oman’s oil and gas exploration firm at up to $8.1 billion 3.12 Omani billion rials. Now OQ is looking to list more of its units on the local stock exchange, and the next share sale could take place at the end of 2025 or in 2026, OQ’s Chief People & Technology Officer, Ali Al Lawati, told Bloomberg in an interview published on Friday.
OQ IPO Oil And Gas Stock Market Debt Reduction Investment Subsidiaries Exploration Public Offering
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