Deals
Another Middle Eastern Oil Producer Plans an IPO
- State energy producer also targets listing units on bourse
- Plans meant to attract foreign investment, boost stock market
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Oman Oil Co., the sultanate’s state-owned energy producer, is seeking advice from banks to sell some energy assets and list units on the local stock market, following plans by its larger peer Saudi Arabian Oil Co. to offer shares to the public.
The oil and gas producer, which has stakes in overseas businesses, wants to attract more foreign investment into the country, Oman Oil Minister Mohammed Al Rumhy said in an interview in Abu Dhabi. He didn’t identify the banks involved in the energy sales. State-run Salalah Methanol Co. will issue stock to the public, he later told reporters at a conference in Abu Dhabi.