VOL. XLI

No. 09

2-March-1998

OMAN

MSM Moves To Heighten Transparency In The MSM

The strength of demand for Initial Public Offerings (IPO) on the Muscat SecuritiesMarket (MSM) has been startling. The most recent was the offering of Topaz Energy andMarine (TEAM), a shipping services company currently based in the UAE which is intendingto expand into Salalah. A total of OR370mn ($961mn) was bid for the OR8.568mn ($22mn) IPO,representing 40% of the company's stock, meaning that the offering was 43...