Omani independent water and power producer (IWPP) Sembcorp Salalah has launched an initial public offering (IPO). This was a requirement of its project agreement with the Omani government.

The offering of some 33.41mn existing ordinary shares represents 35% of the company’s issued share capital. Shares are priced at OR1.59 ($4.1) each, valuing the total floatation at $137mn. (CONTINUED - 273 WORDS)