Oman's drilling services firm Abraj plans March listing on Muscat exchange

MUSCAT: Oman’s oil and gas drilling services firm Abraj Energy Services plans to list up to 49 percent of its shares on the Muscat stock exchange in March through an initial public offering, a company statement said on Sunday.

The IPO forms part of an exit plan recently announced by the sovereign wealth fund, the Oman Investment Authority, the state news agency said.

State energy company OQ, the selling shareholder, is wholly owned by the OIA, which expects to exit eight investments in 2023 to generate about $1.3 billion.