Oman- CMA considers cutting minimum capital for listing to USD2.58m

27 Feb 2013

(MENAFN) Omani Minister of Commerce and Industry, Dr Ali bin Masoud Al Sunaidi, stated that the Capital Market Authority (CMA) may reduce the USD5.179 million minimum capital needed for a company to list on the stock exchange, reported Times of Oman.

Al Sunaidi said that the potential move, which might see the minimum capital slashed by half to USD2.589 million, will be taken to encourage family-owned businesses to go public.

He noted that if family-owned companies are interested in listing their firms on the stock, then, the government will consider a 25-percent capital reduction as a special case.

It is worth noting that when a family converts its business into a listed firm it will guarantee the continuity of its business and will be able to access capital needed for expansion, as public firms can gather capital from the market to finance their expansion projects.

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