OMIFCO's $678 Million IPO Attracts Record Demand from Global Investors - The Middle East Observer
MUSCAT – Investors placed more than US$12 billion in orders for the initial public offering (IPO) of Oman India Fertiliser Company (OMIFCO), making it the largest share sale in the Middle East since the outbreak of the Iran conflict and underscoring sustained investor appetite for Gulf industrial assets. The offering attracted approximately US$1. 06 billion in retail demand and US$11. 2 billion from institutional investors, […]
MUSCAT– Investors placed more thanUS$12 billionin orders for the initial public offering (IPO) ofOman India Fertiliser Company (OMIFCO), making it the largest share sale in the Middle East since the outbreak of the Iran conflict and underscoring sustained investor appetite for Gulf industrial assets. The offering attracted approximatelyUS$1. 06 billionin retail demand andUS$11. 2 billionfrom institutional investors, leaving the IPO around18 times oversubscribed, according to Oman’s Financial Services Authority. OMIFCO, Oman’s largest producer of urea and ammonia fertilisers, raised approximatelyUS$678 millionthrough the sale of a 25% stake. The final offer price was set at156 baisa per share, the top of the marketed range, valuing the company at aboutUS$2. 7 billion. Shares are scheduled to begin trading on theMuscat Stock Exchangeon8 July. The company reported revenue ofUS$207. 4 millionfor the three months ended March 2026. The successful listing underscores sustained international appetite for Gulf industrial assets despite heightened regional geopolitical risks, while advancing Oman’s privatisation programme and efforts to deepen domestic capital markets as part of its long-term economic diversification strategy. Related news:ACME Backs Oman’s Green Fuel Ambitions with $4. 2bn ExpansionOman Advances $1bn Solar Expansion with Adam and Sinaw ProjectsRead also:El-Sisi Launches The Octagon, Charting Egypt’s Next Phase of Security and ReformChina Unveils Nuclear-Powered Floating Port Concept for Next-Generation Shipping