Tuesday, October 03
12:58 AM

OQGN plans eight IPO roadshows across Oman

19 Sep 2023 OQ Gas Networks IPO subscription opens on Tuesday By OUR CORRESPONDENT

Muscat – OQ Gas Networks (OQGN), which is set to open its initial public offering (IPO) for public subscription on September 26, will organise eight roadshows to support the launch of the IPO.

OQGN holds a natural monopoly over essential gas transportation in Oman as the exclusive operator and owner of the sultanate’s Natural Gas Transportation Network (NGTN).

The company’s IPO is expected to raise up to RO297mn at the top of the offered price range (131bz-140bz per share).

The roadshows will be carried out in collaboration with the Capital Market Authority (CMA), the Oman Chamber of Commerce and Industry (OCCI), and the offices of Governors and Walis in several governorates across Oman.

The roadshows, starting on September 20 and ending on October 3, aim to educate investors, both nationals and residents, about the system of subscription in issued shares and the targeted categories.

OQGN plans to float up to 49% of its shares in the offering that will provide investors with access to the company’s growth as the exclusive owner and operator of the gas transportation network in the sultanate.

The first roadshow will be held on Wednesday in collaboration with the OCCI branch in Sohar. The chamber’s branch in the Wilayat of Khasab will host the second roadshow in Musandam Governorate on Thursday.

Following this, another roadshow will be held in Al Dhahirah Governorate in the OCCI branch in Ibri on September 24. The fourth roadshow will be hosted in the OCCI branch in Al Buraimi Governorate on September 25.

The Wilayat of Nizwa will host the fifth IPO roadshow on September 26, while the sixth roadshow will be held in the OCCI branch in Dhofar on September 28.

The last two roadshows will be held in the Wilayat of Ibra on October 2 and in Muscat Governorate on October 3, respectively.

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