Desalination IPO opens for subscription – Muscat City – Oman

MUSCAT, NOV 18 – Muscat City Desalination Company (MCDC) SAOG (under transformation) has announced the opening of its Initial Public Offering (IPO) for subscription from today, November 19, 2017. Bank Muscat is the financial adviser and issue manager for the IPO. The founding shareholders, who are leading international names in the industry, are selling these shares to the public to comply with their obligations in the Project Founder Agreement signed with the government of Oman. MCDC is offering 54,442,640 offer shares at a price of 116 baisas per offer share (comprising a nominal value of 100 baisas, premium of [