Thursday 06, September 2018 by Kudakwashe

Dhofar Generating Company lists on MSM

 

The subscription period for the issue ended on 16 August 2018.

Dhofar Generating Company (DGC) has announced the successful closure of its initial public offering (IPO) and listing on the Muscat Securities Market (MSM).

In a statement, DGC stated that the OMR 20 million offering was comfortably oversubscribed and attracted demand from both retail and institutional investors across the country, making it the first successful IPO in 2018.

The IPO was overall subscribed 1.37 times, with category one being subscribed 0.50 times and category two being subscribed around three times. Investors who applied for category one up to 100,000 or less shares have been allotted 100 per cent and category two investors who applied for 100,100 shares or more were allotted 64.6 per cent of their application.

Naif Al Awaaid, CEO of DGC, said, “With the sounding of the opening bell, DGC will open a new chapter in its remarkable journey of success.”

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