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An IPO (Initial Public Offering) is the process of offering shares of a private company to the public. This allows the company to raise capital from public investors or the selling shareholders to monetize their stakes in the business. The company will have to meet certain requirements and regulations and take approval from the Financial Services Authority (FSA) and Muscat Stock Exchange (MSX) before it can list its shares on a stock exchange. Investing in an IPO can be a rewarding opportunity for investors who want to participate in the growth potential of a new or emerging company. Some of the benefits of investing in an IPO are: OQ Exploration & Production SAOG (under Transformation) (the "Company" or "OQEP") is Oman’s largest pure-play Oil & Gas exploration and production company. It is the only upstream Oil & Gas operator entirely owned by the government of Oman & currently ranks among the top three Oil & Gas producers and is also one of the largest holders of Oil & Gas reserves in Oman. The company is going public by offering 2,000,000,000 Offer shares under the following structure: Subscription price range: OMR 0.370 to OMR 0.390 per Offer Share. The Category I Offer will be open in Oman to Omani Applicants and Non-Omani Applicants only who have their accounts with Muscat Clearing & Depository (MCD). Institutional investors who want to inquire about financing facility for the purpose of IPO subscription are requested to contact their Corporate Banking Relationship Manager. Prospective investors should refer to the Prospectus of OQ Exploration and Production IPO that is also available on the website of the Financial Services Authority for details about the issue (https://fsa.gov.om/Home/EPublications/IPOs) and subscription conditions and procedures for Category I investors. The Category II Offer will be open in Oman to Omani and non-Omani Applicants (individuals) who have their accounts with Muscat Clearing & Depository (MCD). For Category II the minimum of 500 Offer Shares and in multiples of 100 Shares thereafter. The easiest way to subscribe to the IPO is through the mBanking App or Internet Banking. Click here to know how to apply for the IPO with Bank Financing through mBanking Click here to know how to apply for the IPO with Self-Contribution through mBanking Click here to know how to apply for the IPO with Bank Financing through Internet Banking Click here to know how to apply for the IPO with Self-Contribution through Internet Banking Our branches will also accept physical applications, for which applicants should first provide their particulars in the E-IPO Platform on the MCD website www.mcd.om. After verifying all the particulars, applicants need to print the E-IPO Application and submit it along with supporting documents and application money to any of our branches. Investors will receive a copy of the acknowledgment from the branch as proof of their application. Prospective investors should refer to the Prospectus of OQEP – IPO(Clickhere) that is also available on the website of the Capital Market Authority for details about the issue (https://fsa.gov.om/Home/EPublications/IPOs) and subscription conditions and procedures for Category II investors. The transaction limit for an IPO subscription (without availing IPO financing) on mBanking is OMR 200,000 and on Internet Banking is OMR 400,000. Please note that multiple applications and joint applications cannot be accepted. Bank Muscat is offering 1:1 IPO financing facilities for the OQEP IPO through mBanking & Internet Banking. Our eChannels provide a secure and user-friendly experience for you to effortlessly apply for IPO financing. With just a few clicks, you can take advantage of this investment opportunity from the comfort of your own home. If you are unable to use the m Banking App or Internet Banking to avail IPO financing, or need a higher subscription or financing amount, you may visit your nearest branch. Our branches will assist you in the IPO subscription process to ensure that you are able to subscribe through the most convenient channel. Investing in the Offer Shares involves significant risks. Prospective investors should refer to the prospectus document in its entirety and, in particular, prospective investors are advised to examine all of the risks that are relevant in connection with an investment in the Offer Shares. What is an IPO?
Why invest in an IPO?
New IPO: OQ Exploration and Production SAOG
About OQEP:
Offer Periods:
Subscription Price Range
Category I
Category II
IPO Details:
Company Name OQ Exploration and Production SAOG (under transformation). Sector Oil & Gas Exploration & Production Issued Share Capital OMR 80,000,000 divided into 8,000,000,000 Shares with a nominal value of OMR 0.010 per Share. Number of Shares offered for subscription (Offer Shares) 2,000,000,000 Shares, representing 25% of the Company’s total Issued Share Capital. Category I Subscription Price Range OMR 0.370 to OMR 0.390 per Offer Share. Category II Subscription Price Range For Omani Individuals who are Category II Applicants: A Discounted Maximum Price of OMR 0.351 per Offer Share, calculated as the Maximum Price of OMR 0.390 less a discount of 10%.
For Non-Omani Individuals who are Category II Applicants: A Maximum Price of OMR 0.390 per Offer Share. Offer Price The final offer price for the Offer Shares, which will be discovered through a book building process in the Category I Offer. The Offer Price shall be determined within the limits of the Price Range as determined in “Chapter XIX—Subscription Conditions and Procedures” of the Propsectus. Percentage of the total Issued Share Capital on Offer 25% of the Issued Share Capital of the Company. Name of the Selling Shareholder and number of Shares being sold OQ SAOC: 2,000,000,000 Shares, representing 100% of the Offer Shares. Purpose of the IPO The Company and the Selling Shareholder are undertaking the IPO as part of the divestiture of a minority stake in the Company by the Selling Shareholder in accordance with the Government’s divestment program. Minimum limit for subscriptions by each Applicant Category I Applicants: 100,000 Offer Shares and in multiples of 100 Offer Shares thereafter.
Category II Applicants (large retail): 28,600 Offer Shares and in multiples of 100 Offer Shares thereafter.
Category II Applicants (small retail): 500 Offer Shares and in multiples of 100 Offer Shares thereafter. Maximum limit for subscriptions by each Applicant Category I Applicants: No maximum limit.
Category II Applicants (large retail): No maximum limit.
Category II Applicants (small retail): 28,500 Offer Shares. Maximum limit for subscriptions by each Anchor Investor 400,000,000 Offer Shares (equivalent to 20% of the Offer Shares). Category I Offer Opening Date 30 September 2024 Category I Offer Closing Date 10 October 2024 Category II Offer Opening Date 30 September 2024 Category II Offer Closing Date 9 October 2024 Pricing Date 17 October 2024 Settlement Date On or about 24 October 2024, or such earlier date as may be notified by the Joint Global Coordinators. Listing Date On or about 28 October 2024, or such earlier date as may be notified by the Joint Global Coordinators. Issue Manager Sohar International Bank SAOG Joint Global Coordinators Oman Investment Bank SAOC
P.O. Box 10, Postal Code 133,
Dana House, Al Khuwair, Muscat, Sultanate of Oman
Sohar International Bank SAOG
P.O. Box 44, Postal Code 114,
Ruwi, Muscat, Sultanate of Oman Collection Agents Bank Muscat SAOG, Meethaq Islamic Banking – Bank Muscat SAOG, Ahli Bank SAOG, Ahli Islamic Bank, Bank Dhofar SAOG, Bank Nizwa SAOG, Dhofar Islamic,
Horizon Capital Markets SAOC, Jabal Asset Management LLC, National Bank of Oman SAOG, Oman Arab Bank SAOG,
Sohar International SAOG, Sohar Islamic, Ubhar Capital SAOC, United Securities LLC and Vision Securities LLC. Auditor KPMG LLC How to Invest/subscribe in OQEP Company’s IPO?
Institutions (Category I Applicants):
Application Process:
Individual Investors (Category II Applicants):
Through mBanking:
Through Internet Banking:
What are the requirements to subscribe for OQEP IPO?
Subscription with Financing:
IPO Financing upfront charges:
Financing Amount (OMR) Upfront Charges (OMR) 1,000 to 5,000 OMR 10 + 5% VAT 5,000.001 to 10,000 OMR 25 + 5% VAT 10,000.001 to 25,000 OMR 75 + 5% VAT 25,000.001 to 50,000 OMR 100 + 5% VAT More than 50,000 OMR 125 + 5% VAT What is required to apply for OQEP IPO Financing?
Physical Applications:
Disclaimer:The details of the IPO provided here is prepared for information purposes only and is for the benefit of investors who may subscribe under the Prospectus. The Prospectus is the formal offering document pursuant to which the offering is being made. You must obtain, and read in full, a copy of the Prospectus, before deciding whether to invest in Shares of the Company. Such a decision is subject to certain risks, which are set out in detail in the Prospectus and any decision to subscribe for shares must be based solely on the Prospectus and not on this document. This information is not, and is not intended to be, a substitute for the Prospectus. Copies of the Prospectus will be available to investors through the Collection Agents, on the Company’s IPO microsite or can be downloaded from the websites of the FSA and MSX, as follows: fsa.gov.om and www.msx.om, respectively.
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