New IPO: OQ Gas ​Networks SAOG (Under transformation) - OQGN
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What is an IPO?​

An IPO (Initial Public Offering) is the process of offering shares of a private company to the public. This allows the company to raise capital from public investors or the selling shareholders to monetize their stakes in the business. The company will have to meet certain requirements and regulations and take approval from the Financial Services Authority (FSA) and Muscat Stock Exchange (MSX) before it can list its shares on a stock exchange.


​Why invest in an IPO?​

Investing in an IPO can be a rewarding opportunity for investors who want to participate in the growth potential of a new or emerging company. Some of the benefits of investing in an IPO are:

  • The ability to buy shares at a lower price before they start trading on the market.
  • Gain exposure to a new sector or industry that may have high demand & profitability.
  • The option to sell your shares at a higher price if the demand exceeds the supply or if the company performs well after going public.

IconNew IPO: OQ Base Industries SAOG​​​​

About OQBi:

OQ Base Industries (SAOG) is Oman's only integrated producer of Methanol, Ammonia & LPG Products. Equipped with advanced infrastructure & technical expertise, OQBi delivers reliable, high quality products for critical and innovative applications, from consumer product manufacturing to alternative fuel production. Click here to view the prospectus  ​​

Subscription Price:

Initial Public Offering of 1,695,150,517 Offer Shares.

Category I Subscription Price Range: Bzs 106 to Bzs 111 per Offer Share.

Category II Subscription Price for Individuals: Bzs 111 per Offer Share.

Category I Offer Period: 24 November 2024 to 1 December 2024.

Category II Offer Period: 24 November 2024 to 28 November 2024.


Company Name

OQ Base Industries (SAOG)
Sector Integrated Petrochemical Producer
Number of Shares offered for subscription (Offer Shares)
1,695,150,517 Shares, representing 49% of the Company’s Total Issued Share Capital.​
Category I Subscription Price Range Bzs 106 to Bzs 111 per Offer Share.
Category II Subscription Price
For Individuals who are Category II Applicants: A Price of Bzs 111 per Offer Share.
Minimum limit for subscriptions by each Applicant
Category I Applicants: 200,000 Offer Shares and in multiples of 100 Offer Shares thereafter.
Category II Applicants (Large Retail): 90,100 Offer Shares.
Category II Applicants (Small Retail): 1,000 Offer Shares and in multiples of 100 Offer Shares thereafter.
Maximum limit for subscriptions by each Applicant Category I Applicants: No maximum limit.
Category II Applicants (large retail): No maximum limit (no applicant may be allotted more than 10% of the offer shares).
Category II Applicants (small retail): Maximum of 90,000 Offer Shares.
Settlement Date
On or about 11 December 2024, or such earlier date as may be notified by the Joint Global Coordinators.
Listing Date On or about 12 December 2024, or such earlier date as may be notified by the Joint Global Coordinators.
Issue Manager Bank Muscat SAOG and
Bank Dhofar SAOG
Joint Global Coordinators Bank Muscat SAOC P.O. Box 134, Postal Code 112, Airport Heights, Muscat, Sultanate of Oman
Bank Dhofar SAOG P.O. Box 1507, Postal Code 112, Ruwi, Muscat, Sultanate of Oman
and one International Bank.
Collection Agents Bank Muscat SAOG, Meethaq Islamic Banking – Bank Muscat SAOG, Ahli Bank SAOG, Ahli Islamic Bank, Bank Dhofar SAOG, Bank Nizwa SAOG, Dhofar Islamic,
Horizon Capital Markets SAOC, Jabal Asset Management LLC, National Bank of Oman SAOG, Oman Arab Bank SAOG,
Sohar International SAOG, Sohar Islamic, Ubhar Capital SAOC, United Securities LLC and Vision Securities LLC.
Auditor KPMG LLC

IconHow to subscribe to the OQBi IPO?

Institutions (Category I Applicants):

The Category I Offer will be open in Oman to local and non-local applicants only who have their accounts with Muscat Clearing & Depository (MCD).​

Application Process:

  1. You must have an active Investor Account Number issued by Muscat Clearing & Depository (MCD). Please visit www.mcd.om for more details.
  2. Visit your nearest branch to subscribe and fill in the pre-numbered bid form specific for Category I (hard copy).

Institutional investors who want to inquire about financing facility for the purpose of IPO subscription are requested to contact their Corporate Banking Relationship Manager.

For Large Corporate customers, please contact Ms. Laila Baqer Taqi on +968 24768790 or LailaB@bankmuscat.com.

Prospective investors should refer to the Prospectus of OQ Base Industries IPO that is also available on the website of the Financial Services Authority for details about the issue (https://fsa.gov.om/Home/EPublications/IPOs) and subscription conditions and procedures for Category I investors.

Individual Investors (Category II Applicants):

The Category II Offer will be open in Oman to Omani and non-Omani Applicants (individuals) who have their accounts with Muscat Clearing & Depository (MCD).

For Category II the minimum of 1,000 Offer Shares and in multiples of 100 Shares thereafter. The easiest way to subscribe to the IPO is through the Mobile Banking or Internet Banking.


Through Mobile Banking:

Click here to know how to apply for the IPO with Bank Financing through Mobile Banking

Click here to know how to apply for the IPO with Self-Contribution through Mobile Banking


Through Internet Banking:

Click here to know how to apply for the IPO with Bank Financing through Internet Banking

Click here to know how to apply for the IPO with Self-Contribution through Internet Banking

Our branches will also accept physical applications, for which applicants should first provide their particulars in the E-IPO Platform on the MCD website www.mcd.om. After verifying all the particulars, applicants need to print the E-IPO Application and submit it along with supporting documents and application money to any of our branches. Investors will receive a copy of the acknowledgment from the branch as proof of their application.

Prospective investors should refer to the Prospectus of OQBi – IPO (Click here) that is also available on the website of the Capital Market Authority for details about the issue (https://fsa.gov.om/Home/EPublications/IPOs) and subscription conditions and procedures for Category II investors.​

IconWhat is required to apply for IPO Financing?

  1. An active Investor Account issued by Muscat Clearing & Depository (MCD). You can create an Investor Account through the MCD website www.mcd.om or download the Oman Stocks App.
  2. An active Brokerage Account through the Bank Muscat approved brokers:
  3. An active Mobile Banking App/Internet Banking account.

Subscription with Financing:

Bank Muscat is offering 1:1 IPO financing facilities for the OQBi IPO through Mobile Banking & Internet Banking for Catogry II investors. Our eChannels provide a secure and user-friendly experience for you to effortlessly apply for IPO financing. With just a few clicks, you can take advantage of this investment opportunity from the comfort of your own home.

  • The minimum age for financing is 18 Years Old.
  • Financing will be available on a 1:1 basis.
  • The minimum financing amount is OMR 1,000, and the maximum financing amount is OMR 200,000. Therefore, the maximum application size with financing on Mobile Banking and Internet Banking is OMR 400,00.
  • Maximum financing tenure is 6 months at an interest rate of 6% p.a. Interest shall be applied 5 days after the listing date of the IPO , if the financed amount is not fully  covered by the refund. No prepayment charges are applicable at the time of refund.
  • Pre-payment charge of 1% on the outstanding amount is applicable in case pre-payments are made after 5 days from the listing date of the IPO ​
  • Customers who wish to avail financing should not apply through E-IPO process on the MCD website.​

IPO Financing upfront charges:

Financing Amount (OMR) Upfront Charges (OMR)
1,000 to 5,000 OMR 10 + 5% VAT
5,000.001 to 10,000 OMR 25 + 5% VAT
10,000.001 to 25,000 OMR 75 + 5% VAT
25,000.001 to 50,000 OMR 100 + 5% VAT
More than 50,000 OMR 125 + 5% VAT

Physical Applications:

Customers requesting for financing amounts in excess of OMR 200,000 may approach any Bank Muscat branch.​


Disclaimer: The details of the IPO provided here is prepared for information purposes only and is for the benefit of investors who may subscribe under the Prospectus​. The Prospectus is the formal offering document pursuant to which the offering is being made. You must obtain, and read in full, a copy of the Prospectus, before deciding whether to invest in Shares of the Company. Such a decision is subject to certain risks, which are set out in detail in the Prospectus and any decision to subscribe for shares must be based solely on the Prospectus and not on this document. This information is not, and is not intended to be, a substitute for the Prospectus. Copies of the Prospectus will be available to investors through the Collection Agents, on the Company’s IPO microsite or can be downloaded from the websites of the FSA and MSX, as follows: fsa.gov.om and www.msx.om, respectively.







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