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Muscat Securities Market Lists Al Sawadi, Al Batinah Shares
Jun 01, 2014
Muscat Securities Market (MSM) has recently listed the shares of Al Sawadi Power and Al Batinah Power Companies in the parallel market.
 
The decision to list the shares of Al Batinah Power Company noted that the shares will be listed with a capital of RO 67,488.743 divided into 674.887.430 shares at the price of RO0.128 per share.
 
Meanwhile, the decision to list the shares of Al Sawadi Power Company indicated that the shares will be listed with a capital of RO 71.440.634 divided into 714.406.340 shares at the price of RO 0.130 per share.
 
The two decisions, issued by the Director General of Muscat Securities Market stated that that the shares of both companies will be floated for three days from the date of their listing in MSM.
 
The Capital Market Authority (CMA) has earlier announced the approval of allocation ratio for the share of Al Sawadi and Al Batinah Power Companies taking into account the largest segment of subscribers represented by small investors.
 
The allocation of the shares of Al Sawadi Power was made on the basis of the distribution of the minimum limit to small investors at 5,000 shares and allocation ratio of 9.2 per cent for each subscriber, and allocation of 4.96 per cent for each subscriber of the second segment, which is represented by large investors. Meanwhile, the allocation of the shares of Al Batinah Power to small investors was on the basis of the minimum limit for small investors at 5,000 shares and 8.2 per cent for each subscriber. It also allocated 4.87 per cent for large investors.
 
Statistics showed that the demand for subscription amounted to tenfold the number of offered shares of each company. The Capital Market Authority has studied the situation regarding the allocation of the shares taking into account making good allocations for small subscribers in order to provide investment opportunities to a new segment of investors. 

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