With Sohar International - Oman’s Leading Bank and Sohar Islamic, investors have a chance to participate in the nation’s largest Sharia-compliant Initial Public Offering (IPO) - OQ Exploration & Production (OQEP). This exciting investment opportunity allows potential investors to subscribe to the IPO through Sohar International and Sohar Islamic mobile banking apps, with the added benefit of doubling their investment through one-to-One Financing with competitive fees, available seamlessly via the app or at any branch.

The OQEP IPO, comprising 2 billion shares that represent 25% of the company's total issued share capital, aims to raise up to RO 780 million (approximately $2.03 billion), valuing OQEP at a potential RO 3.12 billion ($8.1 billion). Investors have the opportunity to become part of this pivotal moment in Oman’s economic landscape. The subscription period opened on September 30, 2024, with non-individual applicants (Category I) closing on October 10 and individual applicants (Category II) closing on October 9. Shares are expected to begin trading on the Muscat Stock Exchange (MSX) on or around October 28, 2024, under the symbol ‘OQEP.’

To make this opportunity even more accessible, Sohar International is offering a One-to-One Financing option with competitive fees, enabling customers to effectively double their investment potential through both the mobile banking app and branch network. Additionally, Sohar Islamic provides a Sharia-compliant One-to-One Financing option with equally competitive fees. This initiative underscores the bank’s commitment to empowering investors to participate in one of the most significant IPOs in the nation’s history.

Commenting on this landmark IPO, Mr. Ahmed Al Musalmi, Chief Executive Officer of Sohar International, stated: “Our role as the issue manager, collecting bank, and corporate advisor for OQEP’s IPO reinforces Sohar International's position as a trusted leader in Oman’s financial landscape. This opportunity is a clear affirmation of the confidence placed in us by regulatory authorities and our clients, reflecting our strong commitment to strong corporate governance, professionalism, best practices, and strategic acumen. As we continue to drive capital market growth, our comprehensive financial solutions are designed to unlock new opportunities, contributing meaningfully to Oman’s economic diversification. By aligning with Oman Vision 2040, we aim to foster sustainable progress, empowering individuals and elevating the national economy for long-term prosperity.”

To participate, potential investors must first establish an investor account with Muscat Clearing and Depository (MCD). Subscriptions can then be completed via Sohar International and Sohar Islamic Mobile Banking apps or by visiting any of the bank’s branches during the subscription period. This streamlined and flexible process underscores the bank’s commitment to making investment opportunities more accessible to the public.

OQEP’s IPO is anticipated to be the largest in Oman over the next decade, making it an attractive investment opportunity for retail and institutional investors alike, with 40% of the shares allocated to each segment. By participating in this IPO, investors can become part of OQEP’s growth story and benefit from the company’s strategic role in Oman’s energy sector.

Sohar International’s pivotal role as the Issue Manager, corporate advisor, and collecting bank ensures a seamless and efficient subscription experience, reflecting the bank’s commitment to operational excellence and its position as a leader in Oman’s financial landscape.

Take advantage of this unparalleled opportunity to invest in Oman’s largest IPO. Download the Sohar International or Sohar Islamic mobile banking app today and be part of Oman's transformative journey!