Oman’s OQ Raises $489 Million With Methanol Unit IPO
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Oman’s state energy company raised $489 million with the initial public offering of its methanol and liquefied petroleum gas unit, amid continued demand for Middle East listings.
OQ SAOC sold a 49% stake in Oman Base Industries SAOG at the top end of the price range of 111 baisas ($0.29) per share, according to an announcement. At that price, the firm would be valued at $1 billion.