OQ is offering 1.69 billion shares, equivalent to 49 per cent of OQ Base Industries’ total issued share capital, at Bzs106 to Bzs111 per share
The listing would allow investors to invest in Oman’s only production company of methanol, ammonia and LPG products
The indicative price range was set between SAR120 and SAR132 per share, implying a market capitalisation of between SAR3bn and SAR3.3bn
The Marsa LNG project includes upstream gas production, a one million-ton-per-year liquefaction plant and a 300-megawatt solar plant
The selling shareholders reserve the right to amend the size of the offering at any time before the end of the subscription period
TotalEnergies holds a 26.55 per cent interest in Block 10, with OQ retaining 20 per cent and Shell holding 53.45 per cent
The facility would be powered by renewable energy and produce green energy products
OQ is tapping the international bond market for the first time in an issuance aimed at raising at least $500m
OQ is an integrated energy company with oil and gas exploration and production operations, refineries, a retail network and a large petrochemical business