OQ’s increased capital goes to Gas Networks subsidiary 

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هذه الصفحة متوفرة بهذه اللغة: العربية

12 August 2020

MUSCAT (WAF): OQ Gas Networks Company SAOC (formerly known as the Oman Gas Company) is getting a 51% increase in capital, an administrative decision at Muscat Securities Market (MSM) shows.

The capital of OQ Gas Networks, a member of state-owned OQ Group, is being increased via private placement from RO223.6 million ($581 million) to RO336.8 million ($875.7 million).

The increase in the capital is equivalent to that approved in March 2020 as a raise in OQ’s (the parent company) capital.

On 22 March, OQ’s Board of Directors approved an increase in the company’s capital to RO3.4 billion ($8.8 Billion). The additional 113,142,833 shares -valued at one Omani Rial per share- have the exact amount and value of the shares appear in today’s administrative decision by MSM regarding OQ Gas Networks’ capital.