Sembcorp Salalah roadshow attracts investors
Muscat, September 15, 2013
Sembcorp Salalah Power and Water Company, a leading power and water company in Dhofar Oman, has attracted significant investor interest across the region during a roadshow.
The IPO roadshow, which started on August 28, has seen senior management meeting top investors across Oman, Qatar, the UAE and Saudi Arabia.
The IPO of 33,410,019 existing ordinary shares represents 35 per cent of the issued share capital of Sembcorp Salalah. The shares will be priced at RO1.590 ($4.1) per share, inferring a total offer size of RO53 million and a market capitalisation on listing of RO152 million, said a statement.
The IPO offer period ends on September 26 and the shares are expected to be admitted to trading on the Muscat Securities Market on or around October 10. The offering is expected to be the biggest in Oman this year, it said.
Lim Yeow Keong, chief executive officer, said: “We are seeing interest from individual and institutional investors who share our view that the offer represents a good opportunity for investors to benefit from the stable revenues, strong Omani government support, and attractive future dividend yield of Sembcorp Salalah.
“The roadshow is providing a great experience to meet face-to-face with potential investors across the region and we look forward to becoming a publicly listed company and broadening our existing shareholder base.” - TradeArabia News Service