Oman’s global integrated energy firm group, OQ, has selected Bank of America Corp (BofA) and Bank Muscat to assist in the initial public offering (IPO) of its gas pipeline unit, OQ Networks, leading business news platform Bloomberg reported on Thursday.
OQ Networks is one of several public sector subsidiaries that broadly operate under the umbrella of Oman Investment Authority (OIA) that are targeted for partial privatisation via IPO listings on the Muscat Stock Exchange.
Bloomberg noted that OQ may consider the listing of OQ Networks in Muscat and Saudi Arabia’s stock exchange, known as Tadawul.
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