Listing of Phoenix Power shares on MSM on Monday

22/06/2015 02:02 AST

Shares of Phoenix Power, which floated an initial public offering (IPO) of OMR56.3 million, will be listed on the Muscat Securities Market on Monday.

The company has allotted a minimum of 3,000 shares and 8.57 per cent of additional shares applied by retail or first category investors.

As far as the second category or institutional investors are concerned, the allotment is merely 2.52 per cent of applied shares, according to the stock market regulator Capital Market Authority.

As many as 49,096 investors - 48,727 retail investors and 369 institutional investors - received allotment.

The share price will be free float for the first three days of trading. The decision issued by Ahmed bin Saleh Al Marhoon, director general of Muscat Securities Market, stated that the listing of the company's shares in the parallel market with a capital of OMR146.26 million divided into 1,462,601,460 shares at an issue price of 110 baisas.

The number of shares that have been subscribed for, which will be made available for trading on the parallel market stands at 511,910,511 valued at OMR56.31 million


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