Oman’s OQ seeks bookrunners for gas pipelines IPO, sources say

Oman’s OQ Gas Organization, the pipelines business of the sultanate’s state oil monster OQ, has welcomed banks to contribute for bookrunner jobs its arranged first sale of stock (Initial public offering), two sources near the matter told Reuters.

For the most recent titles, follow our Google News channel on the web or by means of the application.

OQ Gas Organization is getting ready for a public offer deal that could occur as soon as June, the sources said on state of obscurity on the grounds that the matter was not public.

One of the sources said OQ could raise more than $500 million from the arrangement.

OQ declined to remark when reached by Reuters on Monday.

Reuters detailed last May that Oman’s state energy organization was thinking about an Initial public offering of its gas pipeline organization.

The arranged Initial public offering follows the current month’s buoyancy of OQ’s oil penetrating business, Abraj Energy Administrations, which raised $244 million from selling a 49 percent stake.

OQ Gas Organization is Oman’s selective gas transportation framework administrator, which supplies flammable gas to the nation’s power plants, freezones, modern bunches, LNG edifices and different clients.

Organizations from the Center East raised $21.9 billion through Initial public offerings in 2022, the greater part the absolute for the more extensive Europe, Center East and Africa district, Dealogic information shows.

Understand more:

Oil moves as brokers gauge China request standpoint, Russian inventory

Oman energy firm OQ to sell 49% stake in oil-penetrating unit Initial public offering

Oman’s Abraj signs oil manage Chevron, Kuwait Bay Oil Organization