Omani companies are shying away from entering the primary market for raising funds from the investing public, mainly due to a sluggish trend in the secondary market. About five Omani companies, which had announced plans to tap the capital market last year, have postponed their initial public offerings (IPOs). These firms include Truck Oman, Falcon Insurance and a few other state-owned companies. Although Mining Development Oman had announced a plan to raise OMR40mn from the investing public in 2Q, there has been no progress on that front so far. In fact, share offerings of Gulf companies in 2Q16 plunged by 42% to USD274mn, compared with the previous quarter. (Times of Oman)