Oman Oil-Drilling IPO Draws PIF as Anchor Investor
- Saudi Arabia’s PIF, Schlumberger set to invest in Abraj Energy
- The sultanate is looking to join the Persian Gulf’s IPO boom
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Oman’s OQ SAOC plans to raise as much as $244 million from the initial public offering of its oil-drilling unit and has brought in Saudi Arabia’s wealth fund as an anchor investor.
Helped by a surge in energy prices, governments across the Persian Gulf have been listing assets to fund the diversification of their economies and open up their stock markets to more international investors.