The Capital Market Authority has approved the prospectuses for the issuance of the shares of Al Sawadi Power and Al Batinah Power in public offering during the period from 11 May to  9 June 2014 at a total capital of RO 62.7Million.

The total capital offered for subscription by Al Sawadi Power is RO 32.5 Million divided into 250 million shares at an issue price of 130 Baisas per share. The capital offered for subscription by Al Batinah Power is RO 30 million divided into 236 million shares at 128 Baisas per share. The capital offered for subscription represent 35% of the issued capital of each company.

The prospectuses show that the minimum limit for subscription by category A which represents small investors will be 1000 shares and then the multiples of 100 shares and  for  category B which is institutional investor will be 600100 shares and then the multiples of 100 shares.. 65% of the offering will be allocated for small investors and 35% for institutional investors.

The public offering of Al Sawadi Power and Al Batinah Power comes as meeting the obligations of the shareholders in the founders’ agreement to offer 35% of the shares in public offering and then listing the same in MSM.