(MENAFN) Officials at the Ministry of Finance and issue expected a strong response to Oman Telecommunication Company's USD248.64-million share offer to Omani individuals, Times of Oman reported
That was after the remarkable achievement of the first phase under which there was a private placement of 71.25 million shares with high net worth Omani individuals and institutions on a book building basis
Chairman of the Supervisory Committee for Omantel Divestment at the Ministry of Finance said that, if the dividend yield, discounted offer price and the demand for shares during the just-concluded private placement are considered as indications, there will be a strong demand for shares from individual investors during the public offer
At the annualized dividend rate of 115 percent on the public offer price, the Omani investor will effectively get a dividend yield of 8.51 percent, which is the highest among all the shares included in the MSM 30 Index
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