Keong: a good opportunity for investors

Sembcorp Salalah Power & Water Company, a leading power and water company based in the Dhofar Governorate of Oman, has attracted significant investor interest across the Gulf region during the company’s roadshow meetings with some of the most influential investors in the region, the company says.

The IPO roadshow has seen senior management meeting top investors across Oman, Qatar, the UAE and Saudi Arabia, reflecting the strong level of investor interest in the company, and in Oman from across the region.

The IPO of 33,410,019 existing ordinary shares represents 35 per cent of the issued share capital of Sembcorp Salalah. The shares will be priced at RO 1.590 ($3.89) per share, inferring a total offer size of RO53 million and a market capitalisation on listing of RO152 million. The offering is expected to be the biggest in Oman this year.

Commenting on the favourable reaction by investors, Lim Yeow Keong, chief executive officer of Sembcorp Salalah, said, "The IPO marks a milestone in Sembcorp Salalah’s history and we are very pleased by the positive reception and the significant level of investor interest we have seen so far. We are seeing interest from individual and institutional investors who share our view that the offer represents a good opportunity for investors to benefit from the stable revenues, strong Omani government support, and attractive future dividend yield of Sembcorp Salalah.

"The roadshow is providing a great experience to meet face-to-face with potential investors in Sembcorp Salalah across the region and we look forward to becoming a publicly listed company and broadening our existing shareholder base."