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Renaissance celebrates 25th anniversary of IPO

2 Jul 2021

Renaissance Services, Oman’s first family-owned company to be listed on the Muscat Stock Exchange (MSX), recently marked the 25th anniversary of its initial public offering (IPO).

The company completed its IPO in 1996 and is part of the MSX30 Index at the Muscat Stock Exchange.

Commemorating the 25th anniversary of going public, Samir J Fancy, chairman of Renaissance Services presented a memento as a token of appreciation to the MSX for their support on this journey, according to a press release.

Speaking on the occasion, Fancy said, “This is a moment of pride for the board, management team and all the employees of Renaissance Services. Our success has been possible only with the invaluable support from all stakeholders. We have been privileged to earn the trust and confidence of shareholders, thanks to a robust process, disciplined approach, good corporate governance, transparent reporting and a collaborative culture. We celebrate this milestone together and look ahead to meeting the opportunities and challenges to come.”

Receiving the memento, Haitham bin Salem al Salmi, CEO of the MSX, said, “Congratulations to Renaissance on its strong performance over the last 25 years. We believe that such leading corporations reinforce the role of the securities market in contributing to economic and social development. We are certain that Renaissance’s approach to adopting best practices in financial management and building trusted relationships with shareholders will inspire other listed companies as we march into the next phase of national growth.”

Over this 25-year period, Renaissance Services has grown exponentially expanding its service offerings and establishing leadership in integrated facilities management, large scale accommodation solutions, and environmental services. Today, the company has over 8,800 employees serving a wide range of clients across diverse industries from over 100 locations in Oman, and a growing presence in the UAE.

“We take pride in being an investor-friendly organisation creating value for all shareholders. Renaissance is well-placed to drive growth as we continue to invest in the future,” Fancy added.

Renaissance is the leading accommodation, services solutions and full integrated international facilities management (IFM) company in Oman.

As of 2020, the company has invested over US$500mn in Oman employing over 2,350 Omani nationals.

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