Phoenix Power $146m IPO heavily oversubscribed

14/06/2015 18:13 AST

The flotation of Phoenix Power Co, owner of Oman's largest power plant, has been heavily oversubscribed, attracting over RO1 billion ($2.6 billion) of bids from investors, the state-run Oman News Agency (ONA) reported on Sunday.

The company sought to raise RO56.3 million ($146.3 million) by offering a 35 per cent stake in an offer open to both local and international investors, which ran until June 8.

ONA said the shares were expected to start trading on Oman's bourse on June 22.

Phoenix Power is a vehicle which owns, maintains and operates the Sur Independent Power Project, which generates 2,000 megawatts of electricity and was officially inaugurated in April.

Prior to the IPO, which was arranged by Bank Muscat , Phoenix Power was owned by a consortium consisting of Marubeni Corp, Chubu Electric Power Co, Qatar Electricity & Water Company and local firm Multitech.

Its offer was the first public share sale in Oman since the flotations last June of power firms Al Suwadi Power Co and Al Batinah Power Co.


Reuters

News

Phoenix Power agrees $11.8 million settlement

04/06/2017

Phoenix Power Company SAOG, which owns and operates the giant 2,000 MW Independent Power Project (IPP) in Sur, has announced that it has agreed to pay $11.8 million to South Korean engineering contra

Oman Daily Observer

Listing of Phoenix Power shares on MSM on Monday

22/06/2015

Shares of Phoenix Power, which floated an initial public offering (IPO) of OMR56.3 million, will be listed on the Muscat Securities Market on Monday.

The company has allotted a minimum of

Times of Oman

Huge oversubscription seen in Phoenix Power initial public offering

09/06/2015

Heavy oversubscription is seen in Phoenix Power Company's initial public offering (IPO), which closed its one-month subscription on Monday.

The shares have been priced at 110 baisas per s

Times of Oman

Most Viewed Companies

Ticker Price Volume

Valuation

PHPC Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
OQEP 0.49 0.01 (2.08%)
OQGN 0.27 0.00 (0.00%)
OTEL 1.56 0.01 (0.64%)
ABRJ 0.46 0.00 (0.00%)
ORDS.MSM 0.37 -0.01 (-2.64%)

Recent News

KFH-Bahrain announces key promotions

07/04/2026

Kuwait Finance House-Bahrain (KFH-Bahrain) has announced the promotion of two Bahraini professionals to key leadership positions within its retail banking division.

The move is part of the b

GDN Online

DAMAC records Dh3.12 billion in March sales as Q1 property activity surges

07/04/2026

Dubai's property market closed March with a clear leader, with DAMAC Properties topping sales activity by a wide margin as demand held firm despite regional tensions.

The developer recorded

Gulfnews

Al Meera rolls out new brand identity

07/04/2026

Al Meera Consumer Goods Company (Q.P.S.C.) has unveiled a new brand identity, marking a strategic step aimed at strengthening its market presence and advancing its customer-focused and digital transf

Gulf Times

Middle East Specialised Cables boosts credit facilities to $66.7m

07/04/2026

Saudi-based Middle East Specialised Cables Company (MESC) has announced that it has signed an addendum to a credit facilities agreement with Al Inmaa Bank, thus increasing the total facility to SAR25

Trade Arabia

Kuwait Airways resumes flights to Manila

07/04/2026

Kuwait Airways has announced that it will continue operating its scheduled flights despite the current circumstances, and resume its operations to Manila, Philippines commencing 8 April 2026.

Trade Arabia

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap