Al Ahlia Insurance Company’s OMR7.5 million-Initial Public Offering (IPO), which closed subscription on August 2, was subscribed by 2.43 times. According to preliminary estimates, the IPO has raised around OMR18.2 million, indicating strong demand from both the investing public and institutional investors to the first share offer on the Muscat bourse this year, said sources familiar at the Capital Market Authority (CMA). The company’s shares will be listed on the Muscat Securities Market (MSM) on August 17. Al Ahlia Insurance Company offered 25% of its total share capital (25 million shares), at a price of OMR0.300 per share.
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