The Capital Market Authority (CMA) has approved the allocation of Oman Qatar Insurance Company in accordance with an allocation policy that takes into account the largest share of subscribers represented by the small shareholders. The shares are allocated to the small investors category at 100%, while the second category represented by senior investors are allocated 63.224% on pro-rata basis.
The total volume of shares was over 1.36 times, with a total volume of 34 million shares, representing RO 5.4 million, with 25 million shares being offered.
In this context, the Capital Market Authority (CMA) studied the situation related to the allocation of shares, taking into consideration the allocation of small subscriptions to provide investment opportunities in the Muscat Securities Market for a new segment of investors, injecting new blood into the market and reducing the phenomenon of concentration in ownership. , And this will of course expand the rule of participation in the financial markets and trading in shares by increasing the number of investors in the market.
Capital Market Authority (CMA) confirmed to the Issuing Manager of Oman Qatar Insurance Company SAOG, the need to direct the subscription banks to return the excess amounts for the accepted subscription applications and the value of the rejected subscriptions to the subscribers' accounts before the end of Monday, 16 October 2017 and coordination with Muscat Clearing and Depository Company and Muscat Securities Market to list the shares for trading as stated in the prospectus.
Capital Market Authority approved the prospectus issued on October 12, 2017, stating that the issue price is 25 million shares at a price of 0.160 Omani Baisa per share. The public subscription period was 6 September to 5 October 2017.