Oman's Alizz IPO saw 'marginal' oversubscription

Wed, Oct 24 - 2012

Analysts have said the OR40m initial public offering (IPO) of Oman’s Alizz Islamic Bank, which closed one-month subscription on October 21, could have seen marginal oversubscription, Times of Oman has reported. The primary estimates indicate that the issue must have been subscribed by 1.2 times, but market sources said that issue manager is yet to get final collection figures from branches located in interior regions. "Retail participation looks low. The enthusiasm which we have seen in the case of Bank Nizwa IPO is no more there in this issue,” a senior market analyst told the daily on condition of anonymity. Alizz offered 40% of its paid up capital equivalent to 400 million shares, each priced at 102 baisas, to Omanis and non-Omani investors.

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