Omani telecoms firm Nawras has launched the largest internationally marketed Gulf IPO for more than two years. It is Oman’s first IPO since July 2008 and is likely to be the exchange’s fifth-largest firm.
The firm is selling 40% of its stock. Qatari telecoms firm Q-Tel will remain the biggest shareholder, with a 55% stake, following the IPO.
On September 7 Nawras announced a price range for the shares of between Bzs702 and Bzs902, including issue expenses of Bzs2 (1,000 baisa equal one Omani riyal).
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