Oman’s Oil Exploration Firm Raises $2 Billion in Record Domestic IPO

OQ Exploration and Production Company (OQEP), Oman’s wholly-state-owned upstream oil and gas operator, has raised $2.03 billion from its IPO which was the largest ever for the Gulf oil nation and the biggest in the region so far this year. OQEP, which is a wholly owned subsidiary of OQ, the Sultanate of Oman’s energy company, sold 2 billion shares in the IPO during the subscription period, representing 25% of OQEP’s total issued share capital. On Thursday, Oman’s Financial Services Authority (FSA) said that it had approved…