Mubasher: Five Omani companies are expected to launch initial public offerings (IPO) on Muscat Securities Market (MSM) this year, Abdullah bin Salem al Salmi, executive president of Capital Market Authority (CMA) told ‘Times of Oman’.
These firms include Mining Development Oman (MDO), Falcon Insurance and three other state-owned firms, he added.
The top executive also said the minister responsible for financial affairs had recently mentioned about plans to divest stakes in three government companies. This is part of a major privatization programme, which was planned few years ago, in a move to raise resources for the government.
Oman earlier announced a plan to privatise a number of state-owned companies to narrow the budget deficit that resulted from the fall in oil prices.
