business planning Energy of Oman “Okio” to list its drilling unit, “Abraaj Energy Services,” in the Muscat market in the first quarter of next year, according to informed sources told Bloomberg.
The offer is expected to raise $ 500 million.
Abraaj selected EFG Hermes Holding, National Bank of Oman and Ahli Bank of Oman to advise on the planned initial public offering.
Interestingly, Abraaj Energy has not yet made a decision on the size of the possible subscription.
Okio was to partially exit the company through an initial public offering in 2015.
Abraaj made adjusted earnings before interest, taxes, depreciation and amortization of approximately $ 90 million, according to information in Okiyo’s bond prospectus in April that Abraaj was a non-fundamental asset.
Okiyo intends to raise capital by selling holdings, initial public offerings or by selling entire shares to investors.
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