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Merge 104.8 | 19 February 2025
OQ Exploration and Production (OQEP) has been awarded the prestigious IPO Deal of the Year at the Islamic Finance News (IFN) Awards, recognizing its commitment to ethical investment and leadership in Islamic finance. The award was received by [Name] on Monday, 17th February, at Address Sky View, Dubai.
On this occasion, Ahmed bin Said Al Azkawi, CEO of OQEP, stated, “We are honored to receive this prestigious award for the largest IPO in the GCC, which is a testament to the invaluable support from the government in driving economic diversification and advancing the goals of Oman Vision 2040. This achievement marks a new chapter for OQEP, as we expand both within the Sultanate of Oman and internationally.”
The subscription (IPO) of two billion shares offered by OQEP on the Muscat Stock Exchange (MSX) stands as the largest in Oman’s history and marks the first IPO in the exploration and production sector.
The award highlights OQEP’s dual value proposition: offering Shariah-compliant investment opportunities while maintaining a rigorous, performance-driven business model. This approach ensures strong returns for investors without compromising ethical values, addressing the growing demand for Islamic financial products across the GCC and beyond.
OQEP continues to expand the Shariah-compliant investment universe, driving innovation and growth. The company operates under a robust compliance framework, ensuring high standards of corporate governance, transparency, and financial discipline. This helps foster investor confidence and supports long-term sustainability through conservative financing strategies.
OQEP’s strong balance sheet and tangible assets allow it to mitigate risks effectively, while its consistent dividend policy reinforces its commitment to long-term shareholder value. Winning the IPO Deal of the Year is a testament to the company’s excellence in structuring and executing a successful IPO, solidifying its reputation in Islamic capital markets.
As the Islamic finance sector evolves, OQEP remains dedicated to delivering ethical, value-driven investments that contribute to the region’s economic growth and resilience.
The IFN Investor Middle East Forum 2025, now in its second year, will take place in Dubai, bringing together leaders and experts to discuss trends and opportunities in Shariah-compliant investment, private equity, and family offices. Organized in collaboration with IFN Investor, the forum aims to foster innovation and industry growth by facilitating key discussions among stakeholders.
