OIA reaps fruits of its investment exit plan

OIA reaps fruits of its investment exit plan

Muscat – As part of its efforts towards empowering the private sector, attracting foreign investments and creating an environment that supports economic diversification, Oman Investment Authority’s (OIA) exiting plan continues to make good outcomes that align with its strategic vision. In an interview published in the new edition of OIA Quarterly Newsletter ‘Enjaz and Eejaz’, […]Muscat – As part of its efforts towards empowering the private sector, attracting foreign investments and creating an environment that supports economic diversification, Oman Investment Authority’s (OIA) exiting plan continues to make good outcomes that align with its strategic vision.

In an interview published in the new edition of OIA Quarterly Newsletter ‘Enjaz and Eejaz’, Talal al Awfi, group CEO of OQ, said, “Initial public offerings (IPOs) in Abraj Energy Services and OQ Gas Networks (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.”

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