5 August 2018
Muscat (WAF): Oman’s Capital Market Authority (CMA) have approved today the extension of Dhofar Generating Company(DGC) Initial Public Offering (IPO) for another two weeks , and with a reduced price for the shares, Muscat Securities Market (MSM) announced today.
“The IPO Offer Price has been revised to Bzs 225 per offer share on the entire offering of 88,896,000 Shares. This translates into a higher dividend yield of 8% for the first five years (including issue expenses)”, DGC said in a statement.
The company said that the change is aiming to “encourage retail participation”. DGC said that “investors who have already subscribed to the IPO at the previous price have the flexibility to continue with their subscription without taking any further steps and they would be allotted proportionately more shares at the revised price so they also get the benefit of this decision”, DGC said in a statement today.