Kamco Invest runs IPO of Oman’s OQ Base Industries
- gceosocial
- Dec 12, 2024
- 1 min read
Updated: 5 days ago
Kamco Invest successfully acted as Joint Bookrunner in the IPO of up to 49% of the Omani sovereign-owned oil company, OQ Base Industries. This transaction serves as a milestone in Oman’s ongoing privatization efforts.
The IPO was comprised of approximately 1.7 billion shares with a value of US$ 490 million. Kamco Invest introduced a key anchor investor through private placement, cementing its role in cross-border investment banking transactions while ensuring a smooth and efficient execution, and adhering to the regulatory timelines and guidelines stipulated by the Kuwait Capital Markets Authority.
MD of Markets & Investment Banking, Mr. Abdullah AlSharekh said:
“Our role as a Joint Bookrunner in this transformative IPO highlights Kamco Invest’s dedication to facilitating strategic transactions that drive economic growth and create value for stakeholders. We are proud to leverage our capabilities and industry know-how to support key initiatives that contribute to the region’s financial development.”
Meanwhile, Executive Director of Equity Capital Markets, Mr. Mohamed Sherif El Rafie said:
“This transaction is a testament to our ability to seamlessly collaborate with leading global and regional financial institutions to deliver exceptional outcomes for all stakeholders. It showcases our unique ability to bridge local expertise with global standards, aligning with diverse market dynamics to drive value for our clients. By contributing to one of the largest IPOs in Oman, Kamco Invest has demonstrated its strategic role in transforming regional capital markets and setting the stage for sustainable growth.”
