Oman India Fertiliser Company SAOG, an integrated producer of anhydrous ammonia and granular urea, completed its listing on MSX on Wednesday.
OMIFCO’s shares started trading following an Offering of a total of 1,672,243,750 ordinary shares to investors, representing 25% of the company’s total issued share capital. With a market capitalisation of approximately RO1.04 billion (equivalent to approximately $2.7 billion, the IPO marks a critical step for OMIFCO and emphasizes the confidence investors have in the Company’s next phase and long-term value creation.
The bell-ringing ceremony at the MSX commenced the listing and trading of OMIFCO’s shares under the ticker symbol OMIF. The success of the IPO demonstrates the strength of OMIFCO’s value proposition and role in supporting global food supply by attracting investment and positioning the MSX as a compelling destination for global investors.
Sunder Singh Yadav, Chairman of the Board of OMIFCO, said, “Today marks a significant milestone in OMIFCO’s journey. We are grateful for the strong support shown by investors and are excited to welcome new shareholders to OMIFCO’s next chapter. As a listed company, OMIFCO is well positioned to build on its strong foundations, focused on operational excellence, sustainable growth and long-term value creation.”
Dr. Ahmed Al Marhoubi, Chief Executive Officer of OMIFCO, said, “Today is a proud moment for everyone at OMIFCO for being part of Oman's most in-demand IPO. We are grateful for the exceptional support shown by investors throughout our IPO, which reflects investor confidence in OMIFCO’s resilient business model, underpinned by our fully integrated, self-sustaining ammonia and urea production."
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