Muscat: Oman government’s disinvestment of 49 per cent stake in state-owned Muscat Electricity Distribution Company (MEDC) by way of an initial public offering (IPO) is expected before June this year, a top-level official at the Capital Market Authority (CMA) told the Times of Oman.
“We are in discussion with the issue manager and it is in the process. We hope to see the issue before the end of the first half of this year. That is what we are hearing from the Ministry of Finance,” said Sheikh Abdullah bin Salim Al Salmi, executive president of CMA. The state-owned electricity firm has already submitted its prospectus for the share offer.
Al Salmi further said the size of the issue and offer price have not been decided yet…