First published: 08-Jul-2026 16:07:06

Amna Assem

Shares of Oman Fertiliser Company (OMIFCO) rose by a relatively large percentage of 23.1% on its first day of trading on the Muscat Stock Exchange on Wednesday.

The stock closed at 0.192 Omani rials (by 3 pm Muscat time), compared to an opening price of 0.156 Omani rials, which is the upper limit of the price range.

Quick background on the company + offering

(According to the prospectus and the company's website)

The company was established in 1998 as a joint venture between the Sultanate of Oman and India, and operates a fertilizer production complex in Oman, comprising four ammonia and urea production lines.

The company offered 25% of its shares, amounting to 1.67 billion shares.

- The subscription was oversubscribed 18 times, while the institutional segment was oversubscribed 27.4 times compared to 3.9 times for the individual segment.

- This is the first offering on the Muscat Stock Exchange this year.

In general, initial public offerings (IPOs) have been active on the Muscat Stock Exchange in recent years, supported by a government plan to divest from some of its subsidiaries. Last year, the government offered Asyad Shipping Company for sale.

(Prepared by: Omnia Assem, Edited by: Fatima El-Kashef, Reviewed before publication by: Yasmine Saleh, Contact: zawya.arabic@lseg.com)

#Economic News

To subscribe to our weekly report covering economic news developments, register here.