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Oman’s Al Batinah, Al Suwadi to launch IPOs next week

: Monday, May 05 - 2014 @ 11:00

Oman’s two leading power companies with assets based in the Batinah governorate, Al Batinah Power Co and Al Suwadi Power Co, both under transformation, have announced their plan to launch their initial public offerings (IPOs) concurrently on May 11, Muscat Daily has reported. Both companies are required to offer 35% of their share capital to the public. Accordingly, Al Batinah Power, which owns the Sohar 2 power plant, plans to offer 236.21m existing shares and Al Suwadi Power, which owns the Barka 3 power plant, plans to offer 250.04m existing shares by listing on the Muscat bourse, the two firms said.

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Monday, May 5- 2014 @ 11:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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