stock offerings Archives

Oman India Fertiliser Co. eyes $2.5B IPO amid price surge

Oman India Fertiliser Co. is weighing an IPO that could value the company at more than $2.5 billion, potentially making it one of the sultanate’s biggest stock offerings.

The fertilizer producer, which is backed by the Oman Investment Authority and the Indian government, is planning to raise several hundred million dollars, with shareholders selling a combined stake of about 25%, Bloomberg reports.

It comes amid a rally in fertilizer prices driven by the regional conflict and would offer a welcome boost for both the Muscat exchange and the wider Middle East region, where deal flow had already started to slow down before the war began.

Société Générale, Arqaam Capital Ltd. and Bank Muscat SAOG are among the arrangers working on the deal.

Dubai Investments preparing IPOs for four of its subsidiaries

After leading the Gulf region as a source for IPOs last year, the UAE is kicking off 2025 with a new slate of stock offerings.

Dubai Investments, which is backed by the sovereign wealth fund Investment Corporation of Dubai, plans to take four of its subsidiaries public this year, CEO Khalid bin Kalba tells The National.

The company’s business units span a range of sectors, including real estate, building materials and construction, education and financial services, though Bin Kalba declined to be specific. “We talked to the local authorities with [regards to] our intention to IPO,” he said.

“The discussion is going on now [around] what multiples we are going to get and what value we are going to get for our divestments.”