Following the launch of its Initial Public Offering (IPO), Oman Qatar Insurance Company (OQIC) (under transformation) hosted an investor roadshow in Muscat on 18 September and is planning to hold a roadshow event in Salalah. The roadshows attendees include a broad range of investor groups, including institutional investors, high-net worth individuals and established family offices, and investment analysts from brokerage houses. The senior management teams of OQIC and its parent Qatar Insurance Company (QIC or the Group) interacted with the Muscat roadshow attendees and the media, and received a positive responses on the IPO.
H.E. Khalaf Ahmed Al Mannai, Chairman, OQIC Insurance Co. said, “OQIC has been playing a leading role in the insurance sector in Oman and brings with is strong credentials and the backing of its parent, QIC, which is the largest insurance group in the MENA region. A number of reasons make this a highly compelling investment opportunity – such as the strong and experienced founders with an insurance industry track record of over 50 years, proven performance and a well-defined growth strategy, prudent investment management and operational excellence. Our highly diversified set of distribution channels in Oman, including digital, branches and bancassurance, along with our focus on select set of profitable segments differentiates the Company from the other participants in the Omani insurance industry.”
Elaborating the company’s strengths, Navin Kumar, CEO – OQIC said: “We are extremely pleased with the strong interest and enthusiasm around the IPO of OQIC, which is a reflecting of the fundamental strength of our Company and its compelling investment case.”
OQIC is offering 25,000,000 Offer Shares at an Offer price of Bzs 160 per Offer Share, (comprising a nominal value of Bzs 100 per Offer Share, premium of Bzs 58 per Offer Share and Offer Expenses of Bzs 2 per Offer Share)