OIA contributes to maximising and developing investments, making profits

OIA contributes to maximising and developing investments, making profits

Muscat: The exit plan of espoused by Oman Investment Authority (OIA) continued to achieve good results that are consistent with the strategic vision set by the OIA as part of its efforts to empower the private sector and attract foreign investments. The plan, which motives corporate growth, goes in line with Oman Vision 2040 and it establishes an environment that supports economic diversification and enhances cooperation with international companies. In an interview published in the new edition of OIA quarterly newsletter "Enjaz and Eejaz", Talal Al Awfi, group CEO of OQ, said: "IPOs in Abraj Energy Services and OQGN this year contributed effectively to capitalising individual savings in investments that both generate profits for individuals and provide Muscat Stock Exchange with large investments in the energy sector, which in turn promotes community partnership. Al Awfi affirmed that these public offerings made great successes reflecting investors' trust in OIA investments and financial management. For instance, OQGN IPO was oversubscribed nearly 14 times while shares of Abraj Energy Services were oversubscribed nearly 7. 8 times. In addition, key investors and a large number of local investors took part in the subscription. He added that OQ Group will use the returns of these