Oman may allow family firms to list as little as 25% stake

Move would 'encourage more family companies to list shares' - executive president of CMA
Oman may allow family firms to list as little as 25% stake
Oman’s Capital Market Authority and the Ministry of Commerce are in the process of amending legislataion. (Getty Images)
By Elsa Baxter
Sun 31 Oct 2010 02:01 PM

Oman’s
Capital Market Authority and the Ministry of Commerce are in the process of
amending legislataion to allow family-owned companies to list as little as a 25
percent stake on the stock market.

“That would encourage more
family companies to list shares,” Yahya Al Jabri, executive president of CMA,
said at a conference in Muscat
today. One family business is “negotiating” with the CMA for an initial public
offering, he said. Currently companies have to list at least 40 percent.

A bank may list shares by
the end of the year, Al Jabri said. “We are in need of more listings.” The
market has “between 24 and 25 percent international investors,” and the CMA is
satisfied with the figure, he said.

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