Oman eyes tourism, tech as it seeks emerging market status

Oman’s Muscat Stock Exchange is preparing for up to three IPOs in 2026 as part of efforts to boost listings and pursue emerging market status.

Working with the Oman Investment Authority, the bourse aims to bring new sectors like tourism and information technology to market, with companies such as Oman India Fertiliser considering IPOs. 

Fundraising has slowed this year after a record $2.5 billion in 2023, but the government is offering incentives such as tax waivers and priority in tenders to attract private firms, the exchange’s CEO, Haitham Al Salmi, told Bloomberg. 

The planned merger of Oman’s Sohar International Bank and Ahli Bank is seen as crucial to market capitalization, though the exchange is also exploring consolidation or group listings as alternatives.

“We understand how important this merger is, but we also have Plan B and C,” Al Salmi said.