Oman’s CMA approves allocation of Abraj Energy shares

MUSCAT – Sheikh Abdullah Salim Al Salmi, Executive President of the Capital Market Authority said the amount collected from the subscription process exceeded eight folds of the offered shares for the second category at OMR 246 million while the amount of shares offered for small investors was OMR 29.6 million which represents 35% of the total offering.

Al Salmi added that the CMA considered the status related to allocation of shares and took into consideration covering the largest number of subscribers and to reduce the refunded amounts as much as possible to provide investment opportunities in the Muscat Stock Exchange (MSX) for a new segment of investors. This move comes in a bid to expand the participation base in the capital market and trading in securities by increasing the number of investors in the market.

He pointed out that the results of allocation of the shares of Abraj Energy was approved based on distributing the minimum limit to the small shareholders category at 4,500 shares and distributing 0.1121% of the remaining shares for each subscriber, and allocation of 4.62% proportionately to each subscriber in the first category represented by institutional investors. Al Salmi said the allocation results would guarantee that the number of investors who will get 100% of the subscribed amounts stood at 19,600 subscribers at 49% of the total subscribers among retail investors whose number is 39,000. Al Salmi added that such results have constructive indications on the volume of confidence and desire of investors to avail the advantages of investment in the stock market.

The post Oman’s CMA approves allocation of Abraj Energy shares appeared first on The Arabian Stories News.

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