Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Al Maha Ceramics plans to open RO8mn IPO on Sept 16  Join our daily free Newsletter

MENAFN - Muscat Daily - 21/08/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) Al Maha Ceramics Co one of the largest ceramic tile producers in Oman is planning to open its much-awaited initial public offering (IPO) on September 16.

Al Anwar Holdings Co which holds a 36.06 per cent stake in Al Maha Ceramics said in a filing to the local bourse on Tuesday that Al Maha Ceramics has proposed keeping IPO subscription open from September 16 to October 15.

Arvind Bindra

Arvind Bindra

Speaking to Muscat Daily Arvind Bindra CEO of Al Maha Ceramics said that the company has submitted the prospectus with the Capital Market Authority (CMA) and is awaiting the market regulator's approval. He said 'We have proposed the date for the IPO but this is subject to CMA approval.'

Bindra added that the date of listing of shares on the MSM will be disclosed once approval is received. Oman Arab Bank (OAB) will be the issue manager for the share sale.

Al Maha Ceramics will offer 20mn shares at 397bz each (including 2bz towards issue expense) in the IPO for an offer size of nearly RO8mn. The company will divest 40 per cent of its RO5mn paid-up capital.

Al Anwar Holdings in its second quarter directors' report said that Al Maha Ceramics recorded a 19 per cent growth in revenue and significant growth in profits for the quarter from a year ago.

Located in the Sohar Industrial Area Al Maha Ceramics has the capacity to produce 6mn sq m of ceramic tiles per annum. Bindra said the company has plans to expand its production capacity by an additional 5.3mn sq m per annum subject to government approval for additional gas allocation. 

Al Maha Ceramics manufactures international quality ceramic wall tiles floor tiles border and highlighter tiles. The company's distribution network is spread across UAE Saudi Arabia Qatar Bahrain Syria Lebanon Jordan Africa and South Asia.


 


Muscat Daily




  MENA News Headlines
 Sep 16 2014 - Kuwait Stock Exchange Indices Close in GreenQatar News Agency
(MENAFN - QNA) Main indexes of the Kuwaiti bourse were in the green zone upon closing Tuesday with the weighted, the price, and the KSX 15 up by 1.1, 28.6, and 2.64 points respectively. Number ...

 Sep 16 2014 - Diplomatic Adviser to the King of Belgium Meets Qatar's AmbassadorQatar News Agency
(MENAFN - QNA) Diplomatic Adviser to the king of Belgium Pierre Cartuyvels met HE Qatar's Ambassador to the Kingdom of Belgium, Sheikh Ali bin Jassim Al-Thani. During the meeting, they discussed ...

 Sep 16 2014 - Real Estate Transactions Worth over QR684 Million Last WeekQatar News Agency
(MENAFN - QNA) Real estate transactions between September 7 and 11 for the real estate sales contracts registered at the Ministry of justice are worth QR684,139,324, the real estate registration ...

 Sep 16 2014 - Qatar University to Host Workshop for Young BoffinsQatar News Agency
(MENAFN - QNA) Qatar University's Al Bairaq programme will engage aspiring young scientists from high schools in workshops on nanotechnology and other scientific topics, the university said ...

 Sep 16 2014 - Qatar Expresses Concern over Expansion of Nuclear Power Reactors EstablishmentQatar News Agency
(MENAFN - QNA) The State of Qatar has stressed that the obsession with safety and security of potential nuclear accidents preoccupies the international community because of the long -term and ...

 Sep 16 2014 - Four Elements of Islamic State Killed in IraqQatar News Agency
(MENAFN - QNA) Baghdad Operations Command announced the killing of four elements from the Islamic State group (ISIS) northwest of Baghdad. The spokesman for the command, Brigadier Saad Maan told ...

 Sep 16 2014 - Elements of Islamic State Killed in IraqQatar News Agency
(MENAFN - QNA) Baghdad Operations Command announced the killing of four elements from the Islamic State group (ISIS) northwest of Baghdad. The spokesman for the command, Brigadier Saad Maan told ...

 Sep 16 2014 - Phase one to begin Dubai USD2.7b Parks projectMENAFN
(MENAFN) Dubai Parks & Resorts, a Meraas Holding company announced it has made significant progress on phase one of its multi-billion dollar entertainment and leisure destination in the emirate, ...

 Sep 16 2014 - Investcorp acquire USD250m US property propertiesMENAFN
(MENAFN) Bahrain's Investcorp, an alternative investment manager, announced it had acquired a portfolio of office and industrial property assets in three cities in the United States for around USD250 ...

 Sep 16 2014 - Dubai's RTA to invest USD544m in 2 projectsMENAFN
(MENAFN) Dubai's RTA announced it is planning to invest in the construction of two new road projects in the Creek area of the city in order to ease traffic congestion, Arabian Business reported.The ...

more...


 






Google

Click to Apply

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help