OQ Gas Networks (OQGN) announced on 12 October that it had achieved the largest IPO registered in Oman’s history, raising OMR 288mn ($750mn). The company settled on a final offer price of OMR 0.140 for Category I and OMR 0.126 for Category II shares, in both instances at the top of the previously-indicated range.

State oil and gas firm OQ in September announced plans to float 2.21bn shares, or 49%, of its subsidiary OQGN. Many expected it to be the largest listing on the Muscat Stock Exchange with local sources estimating $700-800mn being raised and a $1.6bn valuation (MEES, 8 September). (CONTINUED - 185 WORDS)