Muscat: The institutional tranche of OQBI’s initial public offering (IPO), which includes 30% of the offered shares, was fully covered on the first day of the offering. The shares were covered at the top end of the offer price range at 111 baizas per share. The subscription period for retail and institutional investors is slated to close on November 28 and December 1, respectively.

According to Oman News Agency, Dr. Lamya Harib Al Kharusi, IPO Execution Manager at OQ Group, highlighted that the strong demand underscores the offering’s appeal and the strong value proposition of OQBI. She emphasized that this robust response reflects institutional investors’ confidence in the company’s capabilities and its promising growth potential.

Dr. Al Kharusi stated, “With the institutional tranche fully covered on the first day, and anchor investors committing to 30% of the offered shares, the IPO has already achieved a 60% coverage rate.”

The IPO’s share allocation is structured to promote broad participation and ens
ure equitable access for all investor categories, with 30% of shares allocated to institutional investors (Category 1) and 40% designated for retail individual investors. This allocation is evenly split, with 20% for small retail investors and 20% for large retail investors.

Furthermore, 30% of shares are reserved for anchor investors who have already committed to subscribing. The IPO share price will be unified across all categories, determined through a transparent book-building process within a price range of 106 to 111 baizas per share.