OCTOBER 12, 2023

CMA approves allocation ratios for OQ Gas Networks shares

Muscat: The Capital Market Authority (CMA) said on Thursday it has approved allocation ratios set for shares of OQ Gas Networks (OQGN) according to the categories mentioned in the prospectus.

According to the authority, the subscription witnessed a total coverage of approximately fourteen times, with an amount crossing RO 4 Billion.

Meanwhile, the Authority approves the results of the allocation to the individual category with a minimum distribution of 3,300 shares. Each subscriber will get 4.987 per cent of the remaining shares.

The Authority said 4.4773 per cent of the total subscribed amounts were allocated to the category of local institutions according to the rule of Ratios and proportions.

The company’s proposal regarding the allocation of subscribed shares in the category of regional and international institutions was also approved.

Source: https://www.omanobserver.om/article/1144133/business/markets/cma-approves-allocation-ratios-for-oq-gas-networks-shares