The IPOs for a pair of independent power projects in
Al Suwadi Power Co, which owns and operates the Barka 3 plant, was more than ten-times oversubscribed. Meanwhile, the subscribtion demand for shares in Al Batinah Power Co, which operates the Sohar 2 plant, was more than 5.5 times the amount issued.
Both firms offered 35% of their total shares under a deal agreed with the Omani government, with whom they each have a 15-year supply deal.
Prior to the IPOs, they were owned by
The IPOs were led by
Both plants have been operating since
The two coastal, combined cycle gas turbine plants generate around 744MW each.
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