Muscat : Funding tools offered by IPO market play a significant role in the economic development as one of the financing mechanisms through which capital is transferred from surplus funding sectors to deficit sectors that lack the necessary liquidity to finance medium and long-term investments to serve the total economic development. Ahmed bin Sulaiman Al-Qasabi , in-charge of the Directorate General of Issuance and Disclosure at the Capital Market Authority (CMA) said that IPO market in the Sultanate may see the approval of two subscriptions at Muscat Security Market (MSM) in the first half of 2014. He added in a statement to Oman News Agency (ONA) that the CMA has started the necessary steps with two energy companies, expecting that the two companies will be underwritten for the public in the first half of 2014, saying that the two companies are Al Sawadi Energy and Al Batinah Energy with issuance of more than OMR20 million for each company. He said that steps are underway to underwrite 19 per cent of Omantel capital at MSM.
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