Oman's OMIFCO raises $678M in oversubscribed Muscat listing at $2.7B valuation
What's the deal? Oman India Fertiliser Company (OMIFCO)Dealroom has a profile for this one. Try Dealroom → listed on the Muscat Stock Exchange (MSX) on July 8, 2026, raising approximately 261 million OMR ($678 million) through the sale of a 25% stake. The integrated ammonia and urea producer began trading under the ticker "OMIF" at a market capitalisation of roughly OMR 1.04 billion ($2.7 billion).
Why now? The IPO drew aggregated demand of about OMR 4.7 billion ($12.2 billion), leaving the books 18 times oversubscribed at the final offer price of 156 baisa per share. OMIFCO called it the highest-demand IPO in Oman's history.
Who benefits? The company will keep none of the proceeds; all funds go to selling shareholders. The listing is the fifth for state energy group OQDealroom has a profile for this one. Try Dealroom → in three years, part of a strategy to recycle capital from national assets into new growth.
What's the endgame? OMIFCO operates a fully integrated manufacturing complex in Sur, backed by long-term contracts and export infrastructure. Chief executive officer Ahmed Al Marhoubi said the business model rests on a "fully integrated, self-sustaining ammonia and urea production facility."
The signal: The listing advances Oman Vision 2040, the country's plan to diversify beyond oil and deepen its capital markets. MSX chief executive officer Haitham Al Salmi said the deal "strengthens Oman's position as an attractive investment destination" and broadens ownership of strategic national assets.
Read more: OQ
Image credit: Generated with Gemini
