(MENAFN- Muscat Daily) TruckOman Oil and Gas Services is planning to list its shares on the Muscat Securities Market (MSM) by the first quarter of next year.
And as a preliminary step Al Yousef Group the main stakeholder awarded on Monday RO1.05mn worth of free shares to TruckOman employees.
In order to create an institutional framework within which TruckOman Group employees can own shares a closed joint-stock company is being formed for them under the name of Mazaya TruckOman SAOC and it will be registered with MSM to facilitate the sale purchase and transfer of shares a press release said.
The 3mn donated shares - worth RO1.05mn - will form the capital of Mazaya.
The event was held under the auspices of H E Dr Ali al Sunaidy Minister of Commerce and Industry. This is the first time an Omani-owned company has earmarked and allocated five per cent of shares to employees free of cost.
'I am proud of the commitment and dedication of our employees that has enabled us to be the logistics provider of choice to the oil & gas sector in Oman. From today they are partners in the success story that is TruckOman' said Dr Mohamed al Yousef chairman of Al Yousef Group and TruckOman.
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