VOL. XLI

No. 27

6-July-1998

OMAN

Omani Bank Undersubscribed

In contrast to the strength of demand for Initial Public Offerings (IPO) on the MuscatSecurities Market (MSM) since the beginning of the year (MEES, 2 March), the latestIPO for Bank Dhofar al-Omani al-Fransi received a tepid response. On 1 July, the issuemanager, Gulf Investment Services (GIS), announced that the $83mn offer, which closed on18 June and was the biggest on the Omani stock market, had not been fully subscribed,forcing the...