Oman State Energy & Methanol Company OQ Base Industries Raised $489 Million in IPO at $1 Billion Valuation, IPO Target Date is 12th December 2024 on Muscat Stock Exchange (MSX)
5th December 2024 | Hong Kong
Oman state energy & methanol company OQ Base Industries (OQBI) has raised $489 million in IPO at $1 billion valuation. The IPO target date is 12th December 2024 on the Muscat Stock Exchange (MSX). IPO – OQ Base Industries (SFZ) SAOG (under transformation) (“OQBI” or the “Company”) is Oman’s only wholly state-owned and integrated producer of methanol, ammonia, and LPG products. As a wholly owned subsidiary of OQ SAOC (“OQ”), the Sultanate of Oman’s flagship energy company, OQBI represents one of its core assets. The Selling Shareholders expect to sell up to 49% of the total issued share capital of OQBI under the initial public offering (the “Offering”), with the Company and the Selling Shareholders retaining the right to amend the size of the Offering at any time before the end of the subscription period at their sole discretion, subject to applicable laws and the approval of the Financial Services Authority (the “FSA”). Immediately following the Offering, a minimum of 51% shareholding will continue to be held by OQ. OQBI is part of the OQ Group, Oman’s global energy investment and development company. OQ is wholly owned by the Omani Government represented by Oman Investment Authority (OIA) and is a key export partner of crude oil and refined products to high-growth market.
“ Oman State Energy & Methanol Company OQ Base Industries Raised $489 Million in IPO at $1 Billion Valuation, IPO Target Date is 12th December 2024 on Muscat Stock Exchange (MSX) “
Oman State Energy & Methanol Company OQ Base Industries Raised $489 Million in IPO at $1 Billion Valuation, IPO Target Date is 12th December 2024 on Muscat Stock Exchange (MSX)
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