The Muscat Stock Exchange (MSX) celebrated the listing of OQ Exploration and Production’s shares, marking the start of public trading after an Initial Public Offering (IPO) of 25% of the company’s share capital. With a market capitalization of over RO 3 billion, OQEP is now the largest company listed on the MSX and the first exploration and production company to achieve this. This milestone reflects efforts to diversify the MSX offerings and include key players from across Oman’s economic sectors.
The event commenced with the ringing of the bell to signal the start of trading, under the auspices of Sultan Salim Al Habsi, Minister of Finance. Ashraf Hamed Al Mamari, Group CEO of OQ, commented on the occasion by stating that it marks a significant milestone for OQ Exploration and Production as it transitions from a closed joint-stock company to a public joint-stock company. This move is in alignment with the Oman Investment Authority’s strategy to divest certain government assets, supporting economic diversification and contributing to achieving the goals of Oman Vision 2040. This step represents a major advancement for OQEP, paving the way for greater investment opportunities and expansion of operations both in Oman and internationally.
The listing of OQ Exploration and Production’s shares on the Muscat Stock Exchange (MSX) represents a significant development for the company, as it becomes the largest company listed on the exchange with a market capitalization of over RO 3 billion. This milestone highlights efforts to diversify the MSX offerings and include key players from across Oman’s economic sectors. Ashraf Hamed Al Mamari, Group CEO of OQ, commented on the occasion by mentioning that this transition from a closed joint-stock company to a public joint-stock company is a major step forward for OQEP. This move supports economic diversification and aligns with the goals of Oman Vision 2040, while also paving the way for greater investment opportunities and expansion of operations both in Oman and internationally.
The event commenced with the ringing of the bell to signify the start of trading, under the auspices of Sultan Salim Al Habsi, Minister of Finance. This momentous occasion marks a significant milestone for OQEP and reflects the company’s commitment to governance and transparency. As the third OQ Group entity to go public, following Abraj Energy Services and OQ Gas Networks, OQEP’s listing on the MSX represents a major advancement for the company. This move is in line with the Oman Investment Authority’s strategy to divest certain government assets, contributing to economic diversification and the goals of Oman Vision 2040.
Overall, the listing of OQ Exploration and Production’s shares on the Muscat Stock Exchange (MSX) signifies a crucial milestone for the company as it transitions to a public joint-stock company. With a market capitalization of over RO 3 billion, OQEP is now the largest company listed on the MSX and the first exploration and production company to achieve this. This move reflects efforts to diversify the MSX offerings and include key players from Oman’s economic sectors. The ceremonial ringing of the bell, under the auspices of Sultan Salim Al Habsi, Minister of Finance, symbolizes the start of trading and marks a significant step forward for OQEP. This transition supports economic diversification, aligns with the goals of Oman Vision 2040, and paves the way for greater investment opportunities and expansion of operations.
