As many as five Omani companies, including three state-owned, are expected to float initial public offerings (IPO) on the local bourse this year. These firms include Mining Development Oman (MDO), Falcon Insurance and three other state-owned firms, Abdullah bin Salem al Salmi, executive president of Capital Market Authority (CMA), told ‘Times of Oman’.   He said the minister responsible for financial affairs had recently mentioned plans to divest stakes in three government companies. This is part of a major privatization programme, which was planned a few years ago, in order to raise resources for the government. As many as eight locally-incorporated insurance companies, including a reinsurance firm, will offer shares to the investing public within the next couple of years to comply with the amendments in the insurance law. (Times of Oman)