CMA Reviews the Prospectus of OQ Gas Networks

 

The Capital Market Authority (CMA) is currently reviewing the Prospectus of OQ Gas Networks, which is considered to be the biggest share offering in the Omani Capital Market.  The initial statements indicate that the capital volume of the public offering will be approximately RO 212 million, representing about 49% of the company’s capital.

The CMA calls upon all those interested to invest, whether they are citizens or residents, to prepare for such investment by opening an Investor Account through the website of Muscat Clearing and Depository (MCD) or Sanad offices.

The prospectus guides investors towards making sound investment decisions since it includes important information and data about the company’s financial position, vision, opportunities of success, challenges and level of competitiveness. Additionally, this information is essential in making investment decisions related to subscription and determining investment direction and whether it is short or long-term investment.

OQ Gas Networks, through this offering, seeks to utilize the financing advantages provided by the capital market to finance its investment projects and activities.  Share offering is considered as one of the effective investment instruments in the Omani Market after the approval of the Securities Law. This Law endeavors to regulate the securities market towards achieving an effective protection for the dealing parties; and it is considered to be resilient enough to attract investment initiatives from the issuing institutions together with national and foreigner capital owners, to be employed in various investment sectors.

Such initiatives, particularly if taken by national company, contribute to expanding investment activities which avail the company to have the capacity for tremendous projects, hence contributing effectively in providing job opportunities to national cadres and adding value, whether directly or indirectly, to the national economy.