MSM decision allows joint stock firms to shift between parallel and regular market

Muscat: Muscat Securities Market (MSM) on Thursday issued a decision shifting the listing of general joint stock firms from the parallel market to the regular market and vice-versa.

The decision takes effect from Sunday, May 2, 2020.

According to the decision, five of parallel market firms have been shifted to the regular market due to the fact that they met the requirements of such transfer.

They are Oman Finance, Oman Investment and Finance, United Insurance, Al Nahda Services and Al Jazeera Steel Products.

For similar reasons, four of the regular market firms have been shifted to the parallel market: They are Al Maha Petroleum Marketing, Shell Marketing Oman, Al Roya Insurance and Oman Chlorine.

Dhofar Poultry Company has been transferred from the follow-up market to the parallel market because it met shareholder criteria, while Alizz Islamic Bank was relegated to the follow-up market because it breached shareholder criteria. –ONA

Oman Observer

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