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FINANCIAL NEWS
Oman’s Al Batinah to double profit in 2014
12 May 2014
(MENAFN) Oman’s Al Batinah Power Co and Al Suwadi Power Co, which launched twin initial public share offers on Sunday and is owned by the same consortium, target doubled profits between 2014 and 2018 on paying off start-up costs, according to Arabian Business.
The firms, whose owners aim to raise USD163 million through the sale of 35 percent of each company, provide over a quarter of the electricity for Oman’s main power grid in Muscat.
Przemek Lupa, chief executive of Al Suwadi Power and project manager for the two IPOs, said: “If people are looking for robust and very predictable dividends, this is a nice opportunity.”
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