OQ Gas Networks anticipates IPO to outshine Oman’s previous records

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Despite the global market volatility that recently impacted Triton’s planned sale of Renk AG, the forthcoming share sale of OQ Gas Networks has managed to captivate key investors. These include Fluxys Belgium SA, Saudi Arabia’s Public Investment Fund, and the Qatar Investment Authority.

The IPO is part of Oman’s broader privatization program, reflecting similar listing drives observed in neighboring countries such as Saudi Arabia and the UAE. The coordinators for this significant transaction are Bank Muscat SAOG, Bank of America Corp (NYSE:BAC)., and EFG Hermes.

This move by OQ Gas Networks aligns with the country’s broader strategy of diversifying its economy and reducing dependence on oil revenues.

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