Nawras IPO open to Omani and GCC investors

Nawras plans to raise up to US$608 million from its stock market listing, which will place 40 per cent of the shares onto the local stock market.

Should the offer be fully subscribed, Nawras would raise between OMR 182 million (US$472.7 million) and OMR 234 million, based on the number of shares allocated and the price finally set.

Qatar Telecom (Qtel) owns 55.6 per cent of Nawras.

The final share price for the IPO will be determined on October 24 and the shares will be listed on October 27.

The offering will be made in Oman and will be open to Omani and Gulf Cooperation Council (GCC) retail and high net worth investors, and to Omani and international institutional investors.