MUSCAT – Investors placed more than US$12 billion in orders for the initial public offering (IPO) of Oman India Fertiliser Company (OMIFCO), making it the largest share sale in the Middle East since the outbreak of the Iran conflict and underscoring sustained investor appetite for Gulf industrial assets.
The offering attracted approximately US$1.06 billion in retail demand and US$11.2 billion from institutional investors, leaving the IPO around 18 times oversubscribed, according to Oman’s Financial Services Authority.
OMIFCO, Oman’s largest producer of urea and ammonia fertilisers, raised approximately US$678 million through the sale of a 25% stake. The final offer price was set at 156 baisa per share, the top of the marketed range, valuing the company at about US$2.7 billion. Shares are scheduled to begin trading on the Muscat Stock Exchange on 8 July.
The company reported revenue of US$207.4 million for the three months ended March 2026. The successful listing underscores sustained international appetite for Gulf industrial assets despite heightened regional geopolitical risks, while advancing Oman’s privatisation programme and efforts to deepen domestic capital markets as part of its long-term economic diversification strategy.
Related news:
ACME Backs Oman’s Green Fuel Ambitions with $4.2bn Expansion
Oman Advances $1bn Solar Expansion with Adam and Sinaw Projects
Read also:
El-Sisi Launches The Octagon, Charting Egypt’s Next Phase of Security and Reform
China Unveils Nuclear-Powered Floating Port Concept for Next-Generation Shipping
