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Oman-based Dhofar Generating Company (DGC)’s Intial Public Offering (IPO) has seen an increase in interested investors following a roadshow meeting held in collaboration with Bank Dhofar, the issue manager.
The meeting, was attended by a wide cross-section of investor groups including institutional investors, high-net worth individuals as well as established family offices, according to local newswire, ONA.
Naif al-Awaaid, CEO of DGC, said the project founders, Mitsui & Co, ACWA Power and Dhofar International Development as well as Investment Holding Company SAOG (DIDIC) will remain shareholders post-IPO, with an aggregate holding of 60 per cent and they will continue to ensure reliable management and governance of the company.
DGC is offering 88.8 million shares at a price of 259 baisas per offer share and the IPO will close on 30 July 2018.
The first dividend of 9 baisas per share is expected to be paid in February 2019 and 9 baisas per share to be paid in August 2019 with twice yearly dividend declaration thereafter.
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