The capital Market Authority has announced that allocation percentage for Omantel public offering will be 95% of the subscription.

Subscription applications were for 75 million shares exceeding the offered shares   by 3.5 million shares. The  proceeds of the public offering were RO 101.4 million compared to the  issue value of RO 96.2 million.

According to the offering timetable the second leg of the offering of a portion of the Government’s shares in Omantel was closed on Wednesday 13^th April 2014. The shares were offered to the Omani individuals whose subscription applications will not exceed 10,000 shares at RO 1.350 per share.

Total offered shares in the public offering and private placement were 27% of the Governments share in the company’s capital which amounts to 142.24 million shares or19% of the capital of the company. The Government decided to divest the shares in two phased, the first phase was private placement for Omani institutional investors whose applications exceed two million shares on book building bases which was concluded last month at RO 1.511 per share.