Muscat – The Financial Services Authority (FSA) has briefed the Oman Investment Authority (OIA) on the Capital Market Incentive Programme (CPIM), outlining the pathways and incentives available to companies seeking to use the capital market to finance growth and expansion.

The workshop, hosted by the OIA and delivered by the FSA and Muscat Stock Exchange (MSX), focused on the listing process and the different routes available to companies depending on their stage of growth and level of readiness.

The event was attended by Mulham bin Bashir Al Jarf, Deputy President for Investment at the OIA, and Munir bin Ali Al Muniri, Deputy President for Operations at the OIA.

The workshop brought together representatives from the OIA and its affiliated funds to discuss the opportunities and challenges involved in listing companies and accessing capital market instruments.

Three presentations by the FSA’s CPIM team covered the listing journey, including its various stages and procedures, as well as the different pathways available to companies seeking to enter the capital market.

According to the FSA, the programme provides several routes for companies at different stages of development. These include listing on the Primary Market and the Alternative Investment Market, as well as converting into a closed joint-stock company as a potential step towards a future listing.

The programme is intended to broaden companies’ access to market-based financing while developing the capital market’s investor base and range of investment opportunities. Its measures include supporting new listings, encouraging investor participation, expanding investment products and instruments, and strengthening market infrastructure, governance and transparency.

The FSA said the programme has moved beyond its initial awareness and outreach phase towards developing actual listing opportunities, with companies showing varying levels of readiness and interest.

The experience has also highlighted several challenges, including differences in companies’ preparedness for listing, the need to further develop incentives, and concerns related to governance and disclosure requirements, the FSA said.

The next phase of the programme will focus on providing greater support to companies during and after the listing process. This will include capacity building, guidance and advisory support, as well as guidelines, templates and assistance at different stages of the process.

The workshop also provided an opportunity for participants to discuss companies’ aspirations and the challenges they face in accessing the capital market. Discussions focused on areas that could further improve the attractiveness of the market as a source of financing for corporate growth and long-term sustainability.