• Oman

    • OQBI IPO Institutional Tranche Fully Covered on Day 1

    By on November 26, 2024
    OQ
    OQ

    Muscat: The institutional tranche of OQBI’s IPO, comprising 30% of the offered shares, was covered on the very first day of the offering, at the top end of the offer price range at 111 baizas per share; noting that the subscription period for retail and institutions is set to close on November 28 and December 1, respectively.

    Dr. Lamya Harib Al Kharusi, IPO Execution Manager at OQ Group, highlighted that the strong demand underscores the offering’s appeal and strong value proposition of OQBI. She emphasized that this robust response reflects institutional investors’ confidence in the company’s capabilities and its promising growth potential.

    “With the institutional tranche fully covered on the first day, and anchor investors committing to 30% of the offered shares, the IPO has already achieved a 60% coverage rate,” Dr. Al Kharusi stated.

    The IPO’s share allocation is structured to promote broad participation and ensure equitable access for all investor categories as follows: 30% of shares allocated to institutional investors (Category 1); 40% of shares designated for retail individual investors, evenly split between 20% for small retail investors and 20% for large retail investors.

    Further, 30% of shares are reserved for anchor investors who have already committed to subscribing.

    The IPO share price will be unified across all categories, determined through a transparent book-building process within a price range of 106 to 111 baizas per share.

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