Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Analysts strongly recommend IPOs of power firms  Join our daily free Newsletter

MENAFN - Muscat Daily - 04/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) Regional analysts have strongly recommended the initial public offerings (IPOs) of Al Batinah Power Co SAOG and Al Suwadi Power Co SAOG.

Analysts highlighted the stable business profile, attractive dividend yields and proven track record of the group of founding shareholders as key factors underpinning the positive investment case for both IPOs, a press release said.
Przemek Lupa, CEO of Al Suwadi Power, said, ''These recommendations are a powerful confirmation of the strength of the offerings. The analysts have provided a very positive feedback for both offerings. They believe that the offerings are attractively priced and have recommended a buy with a potential upside of between nine per cent to 37 per cent from the offered IPO price. Such a positive consensus is obviously pleasing and also reflects the sentiment of the investors we've met so far, both Omanis and non-Omanis.''

Jrgen De Vyt, CEO of Al Batinah Power, said, ''We're confident that potential investors will also recognise the attractiveness of these IPOs, not only in terms of expected returns, but also the wider commercial story “ the sector opportunity, the robust business model, and our highly experienced partners.''

Al Batinah Power is offering 236,210,601 shares at 128bz per share “ inclusive of a nominal value of 100bz, share premium of 26bz and issue expense of 2bz - totalling RO30.2mn.

Al Suwadi Power is offering 250,042,219 shares at 130bz per share - comprising a nominal value of 100bz, share premium of 28bz and issue expense of 2bz - totalling RO32.5mn. Both IPOs represent an offer of 35 per cent of the share capital of each company.

The shares are being sold by current shareholders to comply with the obligations in the project founders agreement signed with Electricity Holding Co (EHC).

The IPOs will close on June 9, and application forms are available for collection at all branches of the subscription banks: Bank Muscat, BankDhofar, National Bank of Oman, Oman Arab Bank, Bank Sohar, and Ahlib


 


Muscat Daily




  MENA News Headlines
 May 30 2015 - Etihad Airways profits double to USD73m in 2014MENAFN
(MENAFN) Etihad Airways said its profit rose by more than half to USD73 million last year as it carried more passengers and used its stakes in other airlines, Arab News reported.The government-backed ...

 May 30 2015 - Saudi's SAMA net assets down to USD678.8b in AprilMENAFN
(MENAFN) Net foreign assets at Saudi Arabian Monetary Agency fell to USD678.8 billion in April, down by USD11.8 billion or 1.7 percent from March, Arab News reported.Assets dropped 6.8 percent from a ...

 May 30 2015 - Oman to invest USD7b in Indonesia projectMENAFN
(MENAFN) Oman has committed to invest USD7 billion to build oil storage facilities, a petrochemical plant and a refinery in Indonesia, Arab News reported.Oman also agreed to supply crude oil to the ...

 May 30 2015 - Qatar- Preparations for 2022 World Cup to continueThe Peninsula
(MENAFN - The Peninsula) Qatar yesterday defended its successful bid for the 2022 Fifa World Cup and said it was moving forward with preparations to host the event. Qatar will "cooperate fully with ...

 May 30 2015 - IS seizes control of airport in Libya's Sirte: Tripoli govtThe Peninsula
(MENAFN - The Peninsula) The Islamic State jihadist group has seized control of the airport in the city of Sirte after forces of a Tripoli-based Libyan government withdrew, a spokesman said Friday. ...

 May 30 2015 - 4 dead as Saudi 'foils' attack on Shiite mosque: ministryThe Peninsula
(MENAFN - The Peninsula) A car blast outside a Saudi mosque during Friday prayers killed four people, including its driver, in an attack that was "foiled" by the authorities, the interior ministry ...

 May 30 2015 - Iraq- 85,000 flee Ramadi since IS capture: UNThe Peninsula
(MENAFN - The Peninsula) Around 85,000 people have fled Ramadi since the Islamic State group captured the Iraqi provincial capital two weeks ago, the UN said Friday, warning that Iraqi authorities ...

 May 30 2015 - IS bombs second Saudi Shiite mosque, killing 3The Peninsula
(MENAFN - The Peninsula) An Islamic State jihadist killed three people Friday when he blew himself up in a car outside a Shiite mosque in Saudi Arabia, the second such attack in a week. The bombing, ...

 May 30 2015 - Huthi rebels kill Yemen capital's governor: relativesThe Peninsula
(MENAFN - The Peninsula) Yemen's Shiite Huthi rebels have killed the capital's governor in clashes that erupted during an attempt to detain him, his relatives said Friday. Sanaa governor Abdulghani ...

 May 30 2015 - Yemen's Saleh says Saudi offered him 'millions' to fight HuthisThe Peninsula
(MENAFN - The Peninsula) Yemen's ex-president Ali Abdullah Saleh said in an interview broadcast Friday he had rejected "millions of dollars" Saudi Arabia offered him if he stood up to the Shiite ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help