MUSCAT-Bank Muscat, the leading financial service provider in the Sultanate of Oman, is pleased to offer financing solutions to individual and non-individual (institutional) investors interested in subscribing to the Initial Public Offering (IPO) of OQ Gas Network. The subscription period for the individual investors commenced on 26th September 2023 and would end on 5th October 2023, whereas the subscription period for non-individual investors spans from 26th September to 9th October. Each investor will require an investor folio number with Muscat Clearing & Depository (MCD) to subscribe to the IPO. Being the largest IPO in Oman, the offering is expected to receive positive response from retail and institutional investors based in Oman and outside of Oman and therefore financing solutions offered by Bank Muscat exclusively for this IPO are expected to help the investors uniquely position themselves for their participation in the IPO.

For individual investors, Bank Muscat is providing instant access to IPO financing securely and conveniently through the Bank’s Internet Banking and Mobile Banking platforms. The bank is offering competitive financing terms to its individual customers starting with one-time upfront charge as low as OMR 10 (excluding VAT) per investor based on the financed amount. In addition, there is no interest or prepayment charges payable by the individual customers when the financing amount is fully repaid to the Bank at the time of processing of refund of excess amount of subscription from MCD.

The Bank is providing 1:1 financing to its individual customers who wish to subscribe to the offering with a minimum financing amount of OMR 1,000 per investor and a maximum financing limit of OMR 100,000 per investor through the Mobile Banking and Internet Banking platforms. Individual investors requiring financing in excess of OMR 100,000 OMR may approach Bank Muscat’s nearest branch and discuss their specific requirements with Bank Muscat branch team. Individual investors interested in subscribing to the IPO would also have the option to avail financing by visiting any of the Bank’s 178 branches across Sultanate by submitting a copy of the IPO financing application form available at the branches. Please visit Bank Muscat website (https://www.bankmuscat.com/en/investments/Pages/OQGN-IPO.aspx) for full details of the terms of financing offered by Bank Muscat for OQGN IPO.

Further, the tutorial videos for applying to the IPO through Mobile Banking and Internet Banking platforms of the Bank are also available on the above link of Bank Muscat website. Non-individual (institutional) customers interested in availing IPO financing may reach their respective relationship managers at Bank Muscat and discuss appropriate financing options as per their requirements. Prior to subscribing to the IPO, investors are advised to refer to the prospectus of OQ Gas Networks that is available on the website of the Capital Market Authority for details about the issue (https://cma.gov.om/Home/EPublications/IPOs).