Subscription of Al Maha Ceramics shares

02/10/2014 01:19 AST

Investors continue underwriting Al Maha Ceramics with the end of the second week of the subscription period, which ends on October 15.

Underwriting banks recorded an increasing number of requests for subscription by the end of the second week of the subscription period, which covered about 10.5 million shares, which is equivalent to half the size of the shares offered for public subscription.

Capital Market Authority (CMA) had approved the prospectus of Al Maha Ceramics and put its 20 million shares for public subscription, equivalent to 40 per cent of the issued share capital and paid-up to the company. The offering price per share is RO 0.397 and the underwriting process is limited to individuals and investment funds registered at CMA.

As part of the transformation process carried out by Al Maha Ceramics from a closed company to a public company, the importance of IPO market stands out in its ability to finance plans and expansion programmes for the activities of companies listed on the Muscat Securities Market (MSM) by raising their capital.


ONA

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