SMN Power to issue 35% IPO in 2011

20 Apr 2011

(MENAFN) An official at SMN Power Holding, Oman’s largest electricity producer, said that the company is eying an initial public offering (IPO) of 35 percent of the company’s stocks to be listed in Muscat Stock Exchange in 2011, reported Reuters.

The official said that SMN would offer two power stations at Barka and Rusail on the IPO by the end of 2011, so that shares can start trading in Muscat’s bourse early in 2012.

These two projects have the production capacity of 1,343 megawatts (MW).

It is worth noting that SMN Power is co-owned by Mubadala, Kahrabel FZE and Oman’s National Trading Co.

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