Abraaj Energy Services, the oil and gas drilling and exploration unit of the state-run Oman Oil Company (OQ), announced that it has set the final offer price for its shares at 249 baizas per share, valuing the company at about $498 million.
OQ offered a 49% stake, equivalent to 377 million and 398 thousand shares of Abraaj, in a public offering of shares. The IPO price range I set last month was between 242 and 249 baisas per share.
And the Omani Capital Market Authority approved the allocation percentage of Abraaj Energy Company according to an allocation policy that takes into account the second category of subscribers represented by small shareholders, as 35% of the total offering was allocated to this category, according to what was reported by the Oman News Agency.
The volume of the amounts collected from the subscription exceeded the value of the shares offered by 8 times for the second category, amounting to 246 million Omani riyals, while the value of the shares offered for subscription to the category of small investors was about 29.6 million Omani riyals.
It is decided that the shares of subscribers in Energy Towers will be allocated on the basis of distributing a minimum of 4,500 shares to the category of small shareholders, distributing 0.1121% to each subscriber of the remaining shares, and approving the allocation of 4.62% according to the proportional basis for each subscriber in the first category. represented by major investors.
The approved allocation results will ensure that the total number of investors who will achieve 100% of the subscribed amounts is 19.6 thousand subscribers, which represents 49% of the total subscribers of small investors amounting to 39 thousand subscribers, stressing that these results carry positive indicators of the volume of confidence and desire shown by investors to take advantage of the investment characteristics of the stock market.
