Oman's OQ Announces Largest Subscription In Sultanate History

(MENAFN- Kuwait News Agency (KUNA)) MUSCAT, Sept 30 (KUNA) -- Oman's OQ Exploration and Production Company announced the start of its public subscription, Monday, by offering two billion shares, representing 25 percent of its shares, which is the largest subscription in the history of the Sultanate of Oman.
In a press release, the company said that the subscription will continue until October 9 for individuals, while it will start on October 10 for institutions inside and outside the Sultanate.
The statement quoted the company's CEO, Ahmad Al-Ezkawi, as saying that all preparations for the subscription are proceeding as planned, so that the company will enter a new phase in its journey in the fields of exploration and production, to contribute to the economic development in the country and open broader horizons for more investment in this field.
The aim of offering shares for subscription is due to many economic factors in the Sultanate, including diversifying the investor base and increasing the company's profit growth in the future, Al-Ezkawi added.
OQ Exploration and Production Company was established in 2009 and is one of the OQ Group companies, which is wholly owned by the Government of the Sultanate of Oman and the main operator of oil and gas fields in the country. (end)
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