CMA lowers minimum share offer of insurance firms to 25%
Oman’s stock market regulator, Capital Market Authority (CMA), has approved a request from national insurance companies to offload a 25 per cent stake of promoters, instead of the normal 40 per cent disinvestment in initial public offerings. At least five national insurance companies — Al Ahlia Insurance Company, National Life Insurance, Oman and Qatar Insurance, Vision Insurance and Falcon Insurance — are expected to float shares on the Muscat Securities Market (MSM) before August 2017, in line with the CMA regulation.
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