VOL. XLI

No. 24

15-June-1998

OMAN

BP To Float Omani Subsidiary On MSM

British Petroleum (BP) is set to join Shell on the Muscat Securities Market (MSM) bylisting its Oman affiliate, BP Oman. BP will offer 40% of its Omani operations in aninitial public offering (IPO) while retaining 49% itself and allocating the balance tolocal employees and what a company statement described as "key businesspartners." The BP statement did not disclose the expected value of the transaction,and brokers in Muscat...