The Initial Public Offering (IPO) conducted by the Oman Qatar Energy Pipeline (OQEP) aligns with the economic diversification policies of Oman and aims to broaden the ownership base in government-owned entities. Saif Al Badi, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry (OCCI) in Al Dhahirah Governorate, applauded the government’s decision to make its companies available for the IPO, emphasizing the importance of initiatives stimulating both national and foreign investments. Mahmoud Al Hashimi, Chief Operating Officer of OQEP, highlighted the company’s strategic partnerships with international firms in oil concession areas as a testament to its exceptional capabilities and trustworthiness.
Eng. Ahmed Al Azkawi, CEO of OQEP, stressed the role of IPOs in boosting the national economy. He explained how the offering of 25% of OQEP shares for the IPO contributes to diversifying and broadening the shareholder base, in line with Oman Vision 2040’s goal of attracting investments. Al Badi echoed this sentiment by underscoring that the government’s commitment to empowering the private sector for economic advancement is reflected in offering OQEP shares for the IPO.
The outreach conducted in Ibri, as part of the IPO roadshow, aimed to engage businessmen and citizens in the region, allowing them to learn more about the investment opportunities presented by OQEP. Jaber Al Naamani, Chief Financial Officer at OQEP, detailed the IPO structure and highlighted the 10% discount offered to citizens to encourage investment. He also noted that 40% of the IPO is allocated for individuals, representing a significant increase compared to previous offerings.
Overall, the IPO of OQEP not only presents an opportunity for investors to participate in a leading oil and gas exploration and production company in Oman but also supports the government’s objective of attracting investments, empowering the private sector, and stimulating economic growth. The partnership with international firms in oil concession areas further showcases OQEP’s capabilities and trustworthiness, making it an attractive investment opportunity for both national and foreign investors. By offering a significant portion of the IPO to individuals, OQEP aims to encourage citizens to invest their savings in profitable instruments, contributing to their financial well-being and the growth of the national economy.
