The Oman Financial Services Authority has approved the share allocation ratios for the initial public offering of Oman India Fertiliser Company after reviewing subscription results that showed RO 4.69 billion of demand, or 18 times the offer size overall. Small retail investors will receive a minimum of 6,500 shares plus about 5.618% of the remaining shares, large individual investors will receive about 17.818% on a pro rata basis, local institutional investors will receive 2.6806% pro rata, and foreign institutional investors will be allocated shares under the mechanism set out in the prospectus. The offer price for local and foreign institutional investors was set at 156 baisa per share through the book-building process. Demand exceeded the value of the offer by 3.909 times for individual investors and 27.4 times for institutional investors. In the small retail tranche, subscription requests totalled 737,943,400 shares and about RO 115.12 million, equal to 2.206 times oversubscription. Large individual investors requested 1,877,108,000 shares, or about RO 292.83 million, equal to 5.612 times oversubscription. Institutional investors applied for 27,461,059,143 shares and subscribed about RO 4.284 billion. The remaining stages of the offering will follow the timetable in the prospectus. Refunds of excess subscription amounts are scheduled to begin on 2 July, and OMIFCO shares are scheduled to list on the Muscat Stock Exchange on 8 July.

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