Reaffirming its leadership in capital markets, Sohar International—Oman’s best bank—along with its Islamic window, Sohar Islamic, has been honored with the prestigious ‘IPO Deal of the Year 2024’ award at the Islamic Finance News (IFN) Awards. The recognition highlights the bank’s instrumental role in managing the region’s largest initial public offering (IPO), which raised a record OMR 1.657 billion, and was oversubscribed nearly three times, as well as Sohar Islamic’s contribution as one of the designated collecting banks. The award ceremony took place at Address Sky View, Dubai, with Mr. Fahad Al Zedjali, Executive Vice President & Head of Islamic Banking, and Dr. Al Mutasim Al Mutairi, Vice President & Head of Investment Islamic Banking, representing Sohar International. This accolade reinforces Sohar International’s position as a market leader, recognized for its strategic expertise and excellence in executing complex capital market transactions. With a commitment to driving capital market growth, the bank continues to introduce comprehensive financial solutions that unlock new investment opportunities, support economic diversification, and contribute to Oman’s long-term prosperity.

Commenting on this milestone, Mr. Abdulwahid Al Murshidi,  Chief Executive Officer of Sohar International, stated, “Sohar International remains steadfast in its commitment to shaping Oman’s financial landscape through the execution of transformative deals that elevate the nation’s economic trajectory. The success of Oman’s largest Initial Public Offering (IPO)—a landmark transaction that garnered significant investor confidence—underscores our expertise in structuring, managing, and delivering complex capital market solutions with precision and agility. Our role in this monumental transaction aligns with the national agenda of economic diversification, expanding investment opportunities, and unlocking avenues for sustained growth. This achievement is a testament to our ability to drive strategic initiatives that contribute to the broader pursuit of financial excellence and investor empowerment.”

As the Issue Manager of Oman’s largest-ever Initial Public Offering (IPO), Sohar International played a pivotal role in structuring and executing a transaction that raised a record OMR 780 million, setting a new benchmark for capital market excellence. This landmark IPO not only attracted overwhelming investor interest but also served as a catalyst for advancing Oman’s regulatory framework, aligning capital market mechanisms with international best practices.

Spearheading the transaction, Sohar International demonstrated its unrivaled expertise in capital market advisory, investor outreach, and regulatory compliance, ensuring a seamless and transparent process. The bank’s strategic approach facilitated broad-based participation from institutional and retail investors, fostering financial inclusion and driving capital inflow into Oman’s economy. By leveraging its advanced digital banking capabilities, Sohar International streamlined the subscription process, making investment more accessible and efficient.

This achievement underscores Sohar International’s leadership in managing complex capital market transactionsand its commitment to driving financial innovation and economic progress. By successfully delivering Oman’s most significant IPO, the bank has reinforced its position as a trusted partner in the investment landscape, paving the way for future landmark deals that contribute to the nation’s economic diversification and long-term growth.