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Merge 104.8 | 04 September 2023
OQ Gas Networks S.A.O.G (OQGN) has announced its intention to proceed with an IPO and listing on the Muscat Stock Exchange, during a press conference that took place on Monday at the Oman Convention and Exhibition Center (OCEC).
The Selling Shareholders expect to sell up to 49% of the total issued share capital of OQGN, and immediately after the Offering, a minimum of 51.0% shareholding will continue to be held by OQ.
The Company intends to adopt a semi-annual dividend distribution policy to pay dividends in cash after the Offer.
OQGN holds a natural monopoly over the essential gas transportation infrastructure in Oman and it is the exclusive owner and operator of the Natural Gas Transportation Network (NGTN).
