The Capital Market Authority (CMA) on Tuesday announced the completion of privatizing Omantel shares. A total of 2850 shares were allotted for each subscriber in the Initial Public Offering (IPO).
Yahya bin Saud al-Jabri, CMA Executive President said that the government was keen that a larger number of citizens would benefit from this offering, particularly small investors. 149,186 of the total 161,339 subscribers received the full number of the shares they subscribed for.
Al-Jabri said according to the timetable included in the offering bulletin, subscription banks would return the excess amounts to citizens during the coming two days.
According to ONA, subscribers will receive allotment notices which will be forwarded to their postal addresses registered at Muscat Depository and Security Registration results of the allotment will also be sent as SMS on investors’ mobiles.
Saud bin Nassir al-Shukaily, chairman of Omantel privatizing committee said the listing of Omantel shares would increase the market value of listed stocks by 20% approximately.
