(MENAFN- Muscat Daily) Muscat- Nama Group might look to defer the proposed initial public offering (IPO) of Muscat Electricity Distribution Co (MEDC) due to unfavourable market conditions.
'We are reconsidering the options whether we will go for IPO or something else. Another option could be a strategic partner or some other method of privatisation. The current economic situation in the country and the appetite in the local market is the main reason why, the group is reconsidering,' Eng Omar al Wahaibi, CEO of the Nama Group, said on Tuesday.
Speaking to reporters on the sidelines of Nama Group's annual press conference Wahaibi added the committee on privatisation will soon meet to decide on various options going forward, which includes engaging strategic partner or any other option.
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