Leading Omani bank Nizwa has joined the initial public offering (IPO) of Oman India Fertiliser Company (Omifco) as a collecting bank, expanding its involvement in the sultante's capital markets following its participation in the 11th sovereign sukuk issuance.
This participation reaffirms the bank’s commitment to delivering innovative and Sharia-compliant financial solutions that meet the evolving needs of its customers.
As part of its role in the IPO, Bank Nizwa is facilitating subscriptions to the sharia-compliant offering through its branch network for corporate investors and via its mobile banking application for retail investors.
Omifco, which operates Oman’s largest fertiliser production complex and is among the Gulf region’s largest fertiliser producers, is offering 25% of its share capital through a public listing on the Muscat Stock Exchange.
The IPO comprises 1.67 billion shares and is open to both local and international investors. said Bank Nizwa in a statement.
According to Bank Nizwa, 40% of the shares on offer have been allocated to retail investors, while institutional investors have been allocated the remaining 60%.
The offering is part of broader efforts to deepen Oman’s capital markets and expand investment opportunities for individual and institutional investors, it added.-TradeArabia News Service
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