Muscat: In line with the bank’s long-term strategy aimed at achieving excellence, setting the organization on a sustainable growth path, and contributing to the national economy in alignment with the Sultanate’s goals, Sohar International has entered into a strategic partnership with Ubhar Capital (U-Capital), a leading brokerage firm on the Muscat Stock Exchange (MSX). This collaboration marks a significant development in Oman’s financial landscape, as U-Capital takes on the role of the Market Liquidity Provider, facilitating the continuous flow of supply and demand orders for Sohar International shares.
Mr. Ahmed Al Musalmi, Chief Executive Officer of Sohar International, stated, “At Sohar International, our steadfast commitment revolves around enriching shareholder value. This collaboration harmonizes with MSX strategies and initiatives aimed at fostering public offerings, broadening capital market solutions, and catalyzing investment, thus facilitating market enhancements and revitalizing the role of capital markets in the economic advancement of the Sultanate of Oman. It also underscores the bank’s unwavering dedication to nurturing innovation and attaining excellence in a dynamic market landscape. Moreover, this collaboration ushers in a realm of possibilities, further empowering our stakeholders. The amalgamated expertise is poised not only to augment the liquidity of Sohar International shares but also to propel innovation within Oman’s financial domain.”
The primary objective of this partnership is to strengthen and optimize the liquidity of Sohar International shares, which are listed on MSX. This collaboration strictly adheres to the regulatory guidelines established by MSX for the financial market industry. By joining forces with U-Capital, Sohar International positions itself to unlock new opportunities, elevate shareholder value, and enhance liquidity, reaffirming its position as a pioneer in Oman’s financial sector. Sohar International’s post-merger market capitalization stands at approximately $1.5 billion (OMR 500 Million), with an asset size of over OMR 6.5 billion, an increase in market share of 50%.
On this occasion, Sheikh Abdulaziz Khalifa Al Saadi, Chief Executive Officer of Ubhar Capital, said “We are profoundly thrilled about our collaboration with Sohar International, which presents a significant opportunity to deliver substantial value to its shareholders. This strategic alliance is poised to set a cutting-edge standard within the industry, and our collective efforts will introduce an unmatched experience for the shareholders of Sohar International.”
As Sohar International and U-Capital work hand in hand to optimize liquidity, adhere to regulatory standards, and pioneer new possibilities, they solidify their positions as leaders in Oman’s financial landscape. This partnership is not merely a milestone but a testament to the continuous dedication of both organizations to excel – by combining their expertise and resources, Sohar International and U-Capital stand ready to not only enhance the liquidity of Sohar International shares but also ignite a new era of growth and opportunity in Oman’s financial sector.
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