Monday 06, August 2018 by Kudakwashe

Dhofar Generating Company reduces price of its IPO shares


The IPO represents an offer of 40 per cent of the share capital of the company.


Oman-based Dhofar Generating Company (DGC) has reduced the price of its initial public offering (IPO) of 88.8 million shares from 259 to 225 baisas per offer share, with the nominal value of 100 baisas per share as well as a premium of 123 baisas and offer expenses of twice baisas per offer share.

In a statement, DGC also extended the IPO subscription date until 16 August 2018.

The first dividend of nine baisas per share is expected to be paid in February 2019 and nine baisas per share to be paid in August 2019 with twice yearly dividend declaration thereafter.


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