CMA okays results of Vision Insurance public offering

MUSCAT: The Capital Market Authority (CMA) approved results of the public offering for the shares of Vision Insurance (under conversion) in the sale of 25 per cent of the founders’ shares in Vision Insurance SAOG 25,000,000 shares at a price of 0.162 biasas per share by allocating 100 per cent to all subscribers in the two categories of major shareholders (who subscribe to more than one hundred thousand shares) and the smaller shareholders who subscribed less.
The results of the public offering were 12,370,500 shares representing only 49.48 per cent of the total issued shares of 25,000,000.
Abdullah al Siyabi, Issuing Manager at CMA, stated that there is no concern that all the shares offered for subscription will not be sold because these companies have previously fulfilled the minimum required capital of RO 10 million according to the requirements in this regard.
The date on which the company’s shares will be listed on the Muscat Securities Market on Wednesday, August 23. — ONA