Monday, January 30, 2023 – 3:48 PM
From: Ramy Samih
ABU DHABI, 30th January, 2020 (WAM) — Haitham bin Salem Al Salmi, CEO of the Muscat Stock Exchange, said that the stock exchange is currently working with the Oman Investment Authority on two new listings, in addition to the upcoming offering of the “Abraaj” energy services company.
Al-Salmi added, in statements to the Emirates News Agency, WAM, on the sidelines of the ceremony of joining the Muscat Stock Exchange to the “Tabadul” platform, which was held today at the headquarters of the Abu Dhabi Stock Exchange, that the Omani Investment Authority recently announced the exit of 35 companies owned and affiliated with it, and we want to be attractive. So that these companies are listed on the Muscat Stock Exchange after the completion of the exit process.
Al-Salmi expected that the Muscat Stock Exchange will witness more listings in 2023, as the start will be with the shares of the subsidiary “Abraaj Energy Services”, which will offer its shares for subscription during the next month, and it will be the first oil company listed on the Muscat Stock Exchange and one of the largest 10 companies listed in the market in terms of value. vulgarity.
OQ announced its intention to offer 49% of the shares of Abraaj Energy Services on the Muscat Stock Exchange, starting next March, after obtaining regulatory approvals from the Capital Market Authority.
The CEO of the Muscat Stock Exchange affirmed the readiness of the market to attract any new listings of any size, in a step aimed at increasing the depth of the market and enhancing liquidity levels.
Al-Salmi pointed out that the stock exchange witnessed many developments in the recent period, including the suspension of work with the discount tax from the source on the distribution of dividends of shares and the benefits of sukuk and bonds for the foreign investor, in addition to raising the investment limits for foreigners in companies to 100%, indicating that these decisions enhance the investment environment and make Muscat Stock Exchange is an attractive investment destination for foreign capital.
In response to a question about the accession of the Muscat Stock Exchange to the “Tabadul” platform, Al-Salmi said that joining the platform is one of the most important steps that we are working on as part of our ambitious strategy to enhance market liquidity and provide various options for investors.
He added that the accession of the Muscat Stock Exchange to the “Exchange” platform will be reflected in enhancing the levels of cooperation between the Muscat Stock Exchange, the Abu Dhabi Financial Market and the Bahrain Stock Exchange, which will translate into strengthening partnerships and advancing the sustainable growth of the Gulf financial markets.
“Exchange” was launched in July 2022, between the Abu Dhabi Stock Exchange and the Bahrain Stock Exchange, as a regional platform that aims to provide a digital network for trading between stock exchanges regionally and internationally, and to pave the way for a sustainable future economy for the region and beyond, by providing a wide range of trading opportunities for investors directly and easily in the markets. The three.
Reda Abdel Nour / Ramy Samih