Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Oman- Al Maha Ceramics plans to open RO8mn IPO on Sept 16  Join our daily free Newsletter

MENAFN - Muscat Daily - 21/08/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) Al Maha Ceramics Co one of the largest ceramic tile producers in Oman is planning to open its much-awaited initial public offering (IPO) on September 16.

Al Anwar Holdings Co which holds a 36.06 per cent stake in Al Maha Ceramics said in a filing to the local bourse on Tuesday that Al Maha Ceramics has proposed keeping IPO subscription open from September 16 to October 15.

Arvind Bindra

Arvind Bindra

Speaking to Muscat Daily Arvind Bindra CEO of Al Maha Ceramics said that the company has submitted the prospectus with the Capital Market Authority (CMA) and is awaiting the mket regulator's approval. He said 'We have proposed the date for the IPO but this is subject to CMA approval.'

Bindra added that the date of listing of shares on the MSM will be disclosed once approval is received. Oman Arab Bank (OAB) will be the issue manager for the share sale.

Al Maha Ceramics will offer 20mn shares at 397bz each (including 2bz towards issue expense) in the IPO for an offer size of nearly RO8mn. The company will divest 40 per cent of its RO5mn paid-up capital.

Al Anwar Holdings in its second quarter directors' report said that Al Maha Ceramics recorded a 19 per cent growth in revenue and significant growth in profits for the quarter from a year ago.

Located in the Sohar Industrial Area Al Maha Ceramics has the capacity to produce 6mn sq m of ceramic tiles per annum. Bindra said the company has plans to expand its production capacity by an additional 5.3mn sq m per annum subject to government approval for additional gas allocation. 

Al Maha Ceramics manufactures international quality ceramic wall tiles floor tiles border and highlighter tiles. The company's distribution network is spread across UAE Saudi Arabia Qatar Bahrain Syria Lebanon Jordan Africa and South Asia.


 


Muscat Daily




  MENA News Headlines
 Sep 29 2016 - Saudi to launch Gulf exercises amid Iran tensionsMENAFN
(MENAFN) As tensions simmer with Iran, Saudi Arabia's navy will hold exercises in the Gulf and the strategic Strait of Hormuz early next week, the navy chief said on Wednesday.Exercise "Gulf Shield ...

 Sep 29 2016 - Assad's forces blamed for deadly chlorine attacks in AleppoMENAFN
(MENAFN) According to Human Rights Watch, new evidence indicates that Syrian government forces used chemical weapons in two recent attacks in Aleppo that killed five civilians and injured dozens ...

 Sep 29 2016 - OPEC finally agrees to cut oil outputMENAFN
(MEANFN) The Organization of Petroleum Exporting Countries (OPEC) agreed on Wednesday to cut oil production in a surprise move aimed at boosting stubbornly weak crude prices.In detail, the news ...

 Sep 29 2016 - UAE eyes to attract 48m visitors through Yas IslandMENAFN
(MENAFN) With a target of attracting 48 million visitors annually from 2022, Abu Dhabi's Yas Island is aiming to grow its visitor numbers and plans to add 1,500 new hotel rooms."The growth plan is ...

 Sep 29 2016 - Qatar reveals new visa scheme to boost tourismMENAFN
(MENAFN) Qatar Tourism Authority (QTA), Qatar Airways (QA) and Qatar's Ministry of Interior (MoI) has announced A revised, free-of-charge tourism visa scheme.The offer is for passengers transiting ...

 Sep 29 2016 -  Syrian beats Egyptian employee over 'food delay'Arab Times
(MENAFN - Arab Times) KUWAIT CITY, Sept 28: A Syrian expatriate was arrested for beating an Egyptian employee of a restaurant in Ardiya Industrial Area due to delay in delivery of a food order. ...

 Sep 29 2016 - Kuwait bourse retreats 9.97 pts volume shrinks - Ooredoo tumbles 80 fils KIPCO flatArab Times
(MENAFN - Arab Times) KUWAIT CITY, Sept 28: Kuwait stocks sagged on Wednesday reversing the uptick in the last session. The price index slipped 9.97 pts to 5,402.4 points in tepid trade even as the ...

 Sep 29 2016 - Kuwaitis … era of pampering is overArab Times
(MENAFN - Arab Times) Ahmed Al-Jarallah – Editor-in-Chief, the Arab Times THE government hardly announced the process of streamlining expenditures when the wailers raised their voices. They ...

 Sep 29 2016 - KDIPA records $2.2bn direct investment - Over 1,000 jobs created for Kuwait nationalsArab Times
(MENAFN - Arab Times) KUWAIT CITY, Sept 28, (KUNA): Kuwait Direct Investment Promotion Authority (KDIPA) Director General Sheikh Dr Meshaal Jaber Al-Ahmad Al-Sabah said Tuesday KDIPA has recorded ...

 Sep 29 2016 -  Asian dies in lift breakArab Times
(MENAFN - Arab Times) KUWAIT CITY, Sept 28: An Asian expatriate died and another sustained severe injury when an elevator collapsed from the 39th floor of a 43-storey underconstruction building in ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help