OMIFCO IPO Attracts RO 4.69 Billion in Demand, FSA Approves Share Allocation

OMIFCO IPO Oversubscribed as FSA Announces Share Allocation Results

Muscat (ONA): The Financial Services Authority (FSA) announced the approval of the share allocation percentages for the initial public offering (IPO) of Oman India Fertiliser Company (OMIFCO) after reviewing the subscription results.

The results revealed that the volume of collected amounts exceeded the offered value by 18 times for the retail category and 27.4 times for the institutional category, with the total demand value reaching RO 4.69 billion.

The Authority was keen on studying all available options to determine the appropriate allocation mechanism in accordance with the methodology specified in the prospectus. This approach relied on a policy that accommodates all subscribing categories to the greatest extent possible and allocates appropriate shares to the largest number of shareholders, thereby achieving the desired balance while simultaneously contributing to expanding the participation base in public offerings.

Consequently, the Authority approved the allocation results for the small retail investors category (Category II) by establishing a minimum limit of 6,500 shares, in addition to allocating approximately 5.618 percent of the remaining shares.

The volume of demand in this category reached 737,943,400 shares, while the collected amounts reached approximately RO 115.12 million, representing a coverage ratio of about 2.206 times.

Meanwhile, the approved allocation results for the large retail investors category (Category II) reached approximately 17.818 percent on a pro-rata basis for each subscriber. Share requests for this category amounted to 1,877,108,000 shares, while the collected amounts stood at approximately RO 292.83 million, reflecting a coverage ratio of about 5.612 times. Regarding the local institutions category (Category I), the allocation results approved a rate of 2.6806 percent on a pro-rata basis for each subscriber.

As for the foreign institutions category (Category I), the Authority approved the allocation according to the mechanism specified in the prospectus after setting the offer price at 156 baisas for both local and foreign institutions through the book-building process.

The subscription results indicated that institutions registered investment requests amounting to 27,461,059,143 shares, while the actual amounts collected from this category reached RO 4.284 billion, representing a coverage ratio of 27.4 times. It is noteworthy that the Financial Services Authority approved the prospectus for OMIFCO’s public offering on 11 June 2026. The offering included 1,672,343,750 shares, representing 25 percent of the company’s total capital, with a total value of RO 260,885,625.

The subscription period for all categories began on 16 June 2026, and continued until 25 June 2026. The remaining stages are scheduled to be completed according to the timeline specified in the prospectus. The refund of excess funds is set to begin on 2 July, while the process of listing the company’s shares on the Muscat Stock Exchange will commence on 8 July.