ahlibank provides its customers the opportunity to subscribe to OQGN IPO

Muscat: In line with its efforts to provide the best for its growing customer base, ahlibank has recently announced its participation as the Collecting Bank for OQ Gas Networks (OQGN) Initial Public Offering (IPO). This is in line with the Bank’s strategic objectives to collaborate with key institutions across the Sultanate of Oman, in order to bring the latest propositions to its customers.

Customers can use the mobile banking app to subscribe to the IPO at their own convenience. The Bank will provide the 1:1 financing option service digitally at competitive rates. In addition, ahli Islamic, ahlibank’s Islamic banking window, will also offer 1:1 IPO financing through its mobile banking app.

Individuals (Category II) willing to subscribe to the IPO can do so starting 26 September until 5 October, 2023  whereas institutions (Category I) who wish to subscribe can apply starting from 26 September until 9 October, 2023.

ahlibank research division initiated OQ Gas Network report with a target price of 160 Baizas, implying an upside of 14.1% on the high end of the IPO price range (for Category I investors) and 26.8% upside on the IPO price (for Category II investors).

In regards to making this year’s most talked about IPO subscription accessible to a broader populace, Hana Al Kharusi, Senior General Manager – Wholesale Banking, ahlibank, said, “We are thrilled to be a facilitator of the biggest IPO in the sultanate, as it is a testament to our commitment to providing excellent services. This reinforces our dedication to empowering businesses and investors with innovative solutions. We look forward to helping our customers seize this remarkable opportunity and navigate their path to financial success.”

A successful IPO of OQGN will create value for customers and will contribute to the growth and development of Oman’s capital markets. ahlibank has been an active player in Oman’s capital market since acting as the issue manager for the successful IPO of Abraj Energy Services earlier this year. The investment banking division at ahlibank provides a one-stop-shop solution for both corporates and investors. The Bank’s innovative solutions including fundraising through debt capital markets and equity capital markets as well as core expertise in mergers & acquisitions, asset management, brokerage and research services.

ahlibank has a rich history of providing exceptional financial services to individuals and businesses alike. The Bank has become a trusted financial partner with its team of professionals who work tirelessly to deliver customized digital solutions that meet the unique needs of its customers.