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Omani CMA approves results of Vision Insurance public offering

Omani CMA approves results of Vision Insurance public offering
The Muscat Securities Market (MSM)

Mubasher: The Omani Capital Market Authority (CMA) has approved the results of the public offering for the shares of Vision Insurance in the sale of 25% of the founders' shares in the company’s 25 million shares.

Shares were sold at a price of 0.162 biases per share by allocating 100% to all subscribers in the two categories of major shareholders (who subscribe to more than one hundred thousand shares) and the smaller shareholders who subscribed less, according to Oman News Agency (ONA).

The results of the public offering were 12.3 million shares representing only 49.48% of the total issued shares of 25 million.

The issuing manager at CMA, Abdullah al-Siyabi stated that there is no concern that all the shares offered for subscription will not be sold because these companies have previously fulfilled the minimum required capital of OMR 10 million according to the market regulations and requirements.

The date on which the company's shares will be listed on the Muscat Securities Market will be on Wednesday 23 August.