Omantel’s IPO success

13 Jul 2005

The Government of Oman’s initial public offering (IPO) of a 30% stake in Oman Telecommunications (Omantel) closed on 10 July, having been three-times oversubscribed by more than 163,000 investors. A total of OMR700 million (USD1.82 billion) was pledged for shares worth OMR288 million (USD748 million). Omantel’s shares are scheduled to be traded on the Muscat stock market from 31 July.

Oman, Oman Telecommunications Company (Omantel)