Oman's stock market is likely to see two initial share sales before the summer, by a utility firm and a family-owned business, the director-general of the Muscat Securities Market said.

“We are expecting some initial public offerings (IPO) this year, and the two may happen by summer,” said Ahmed Saleh Al Marhoon on the sidelines of a securities conference in Abu Dhabi, reported the Gulf Daily News (GDN), our sister publication.

Two power firms, Al Suwadi Power Company and Al Batinah Power Company listed on the Oman bourse in June 2014 after each offering 35 per cent of their shares to the public in IPOs worth a combined $162.9 million.

The listing of family-owned businesses has been a key aim of bourses across the Gulf region, including Oman, as they make up a large proportion of the business sector.

Oman is now amending its law to reduce the minimum free float to 25 per cent from 40 per cent currently. - TradeArabia News Service