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FINANCIAL NEWS
Oman’s Al Ahlia Insurance’s IPO raises OMR18mn
08 Aug 2017
(MENAFN) Al Ahlia Insurance Co OMR7.5mn Initial Public Offering (IPO) was subscribed by 2.43 times, while it has raised almost OMR18.2mn.
Moreover, the firm offered 25 percent of its whole share capital, or 25mn shares, at a price of 300 baisas per share.
Accordingly, the share offer was comfortably oversubscribed and attracted strong levels of demand from retail and institutional investors through the nation.
In addition, the company is backed by strong promoters led by RSA Insurance Group and well supported by experienced local stakeholders, like Ominvest.
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