Oman
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The Middle East's IPO market is heating up again after a lull this year -
Adnoc Gas and Abraj Energy surge in early trading as global equities plummet
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OQ's oil drilling unit was Oman's biggest listing since 2010
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OQ's oil drilling business Abraj Energy aims for $500m valuation
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Oman's OQ launched the flotation of its oil drilling business, Saudi regulators approved IPO of TAM Development
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Issuance from the Gulf is coming to an end this year but volumes may surge in 2023
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Omani bank plans to raise $424m to fund growth
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The Omani lender Bank Dhofar has secured a loan facility from a consortium of international banks, in a deal led by two regional lenders.
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A brace of sukuk trades from the Gulf this week racked up enormous order books, demonstrating the voracious demand for Sharia-compliant paper. With a hungry investor base, sukuk issuance is expected to grow, despite some "teething problems".
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The Sultanate of Oman launched a dollar sukuk on Tuesday, which investors said would receive strong demand as investors hunt for high yielding Sharia-compliant paper.
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The Sultanate of Oman, one of only two sub-investment grade credits in the Gulf, is set to sell a sukuk. The government is seeking the dollar-denominated debt months after it last entered both the bond and syndicated loan markets to bolster its financial capacity.
