VOL. XLVII

No 16

19-April-2004

ENERGY FINANCE

Al-Maha IPO Oversubscribed

The Omani Governments initial public offering (IPO) for a 60% stake of Al-Maha Petroleum Products Marketing Company (Al-Maha) has been oversubscribed seven times, according to issue managers Financial Corporation (FinCorp). The 60% stake was valued at OR9mn ($23.4mn), but subscriptions have run to over OR63mn ($163.6mn). Senior FinCorp officials said that oversubscription could eventually reach eight or nine times when all...