Muscat, Oman — In a landmark transaction for the Sultanate’s capital market, the Oman India Fertiliser Company (OMIFCO) has completed its listing on the Muscat Stock Exchange (MSX). Valued at OMR 1.04 billion (approximately USD 2.7 billion), the listing represents a major milestone in Oman’s privatization program and national efforts to expand the depth of the local stock exchange under Oman Vision 2040.
The public offering comprised 25% of OMIFCO’s total share capital, representing 1,672,243,750 shares. Strong demand from both retail and institutional investors pushed the final offering price to 156 Baisas per share, the absolute upper limit of the initial price range. The successful IPO raised OMR 261 million (equivalent to USD 678 million) in gross proceeds, making it one of the largest listings on the MSX in recent years.
Unlocking Value in the Industrial Sector
OMIFCO, which operates a world-class production facility in Sur for anhydrous ammonia and granular urea, is a cornerstone of industrial cooperation between Oman and India. This listing provides a transparent public platform, allowing local citizens and international investors to participate directly in the financial success of Oman’s downstream manufacturing sector.
The success of the offering reflects deep investor confidence in Oman’s manufacturing assets and underlines the stock market’s capacity to absorb large-scale listings. It also demonstrates how listing state-backed joint ventures can mobilize local capital and support diversification.
Attractive Dividend Outlook for Shareholders
Alongside the listing, OMIFCO announced a robust dividend distribution plan for the year 2026, totaling approximately OMR 80.8 million. The company plans to distribute these dividends in two tranches, with the first payment of OMR 45.2 million scheduled by December 2026, followed by the remaining balance in early 2027. This high dividend yield is expected to attract steady income-seeking investors, enhancing the overall liquidity of the MSX.
By bringing mature, dividend-paying enterprises to the public market, Oman continues to execute its strategy of restructuring state-owned assets, enhancing corporate governance, and attracting foreign investment to the Sultanate.
Hassan Al Maqbali
Content Creator & Website Manager at Omanspire
Hassan Al Maqbali is a dedicated content creator and the website manager at Omanspire, where he writes passionately about Oman's culture, history, and the timeless stories that shape the nation’s identity. His work reflects a deep love for the Sultanate and a commitment to sharing its beauty with the world.
Driven by a desire to widen global understanding of Oman, Hassan creates narratives that present the country through diverse perspectives—capturing its people, heritage, landscapes, and evolving cultural heartbeat. Through Omanspire, he hopes to bring readers closer to the spirit of Oman, one story at a time.
