DUBAI: Sembcorp Salalah Power and Water Co, in which a unit of Singapore’s Sembcorp Industries has a 60 percent stake, plans to raise $138m by offering 35 percent of its share capital on the Muscat bourse, the company said.
The $1bn power plant will offer 33.4 million existing ordinary shares at a price of 1.59 rials per share in an initial public offering to be launched on August 28, Sembcorp Salalah said in a statement yesterday. This would be worth RO53m ($137.66m), it said.
Sembcorp Utilities, a unit of Sembcorp Industries, has a 60 percent stake in the Sembcorp Salalah Power and Water Company. Oman Investment Corp owns 35 percent and Instrata Capital five percent in the joint venture. The statement did not disclose what amount of shares the existing shareholders were each selling in the IPO.
Reuters
