‎MSX seeks to absorb OIA’s exits from govt firms, plans dual listing with Tadawul: CEO

‎MSX seeks to absorb OIA’s exits from govt firms, plans dual listing with Tadawul: CEO

Oman Investment Authority (OIA) plans to exit 30 or more firms out the of 160 government companies that it manages. Muscat Stock Exchange (MSX) aims to be the first channel to absorb the largest number of government listings, Haitham Al Salmi, CEO, MSX, told Argaam.

Al Salmi expected a new listing in the third or fourth quarter of 2023, which would be four times the size of the last listing, Al Salmi added on the sidelines of the Arab Federation of Capital Markets Conference in Muscat.

The Saudi market has the necessary liquidity requirements. Having signed an agreement with the Saudi Exchange (Tadawul), MSX works on marketing dual listing to Saudi and Omani firms as both markets are ready on the level of infrastructure.

MSX held roadshows for dual listing with some companies, hoping that a dual listing of one or two companies will be finalized this year.

Al Salmi added that MSX seeks to upgrade to an emerging market to attract huge capital and join global indices to realize the five-year plan.

To join global market indices, three large companies should be listed on the market. As Abraj Energy Services listed shares, an initial public offering (IPO) is in the pipeline with another company