EFG Hermes completed Oman’s first accelerated bookbuild, raising $92.5 million and attracting strong global investor demand rapidly.
EFG Hermes, a prominent investment bank in the Middle East and North Africa (MENA), recently announced the successful completion of its advisory role for the Public Investment Fund's (PIF) Saudi Omani Investment Company (SOIC) in a landmark Accelerated Bookbuild (ABB) in Oman. This transaction involved the sale of SOIC's significant stake in OQ Base Industries (OQBI), which stands as Oman's sole integrated producer of methanol, ammonia, and LPG.
The offering saw the placement of 127,136,289 shares, culminating in a total value of USD 92.5 million on behalf of SOIC, a company wholly owned by the PIF. This event holds considerable significance as it marks the very first accelerated bookbuild ever executed within Oman's capital markets. Furthermore, it is notable as the first ABB launched in the region following a period of recent geopolitical tensions, demonstrating a robust return of investor confidence.
Structured as a cross-border sale, with EFG Hermes advising a Saudi client on an Omani asset, the transaction garnered exceptionally strong demand. Both domestic and a wide array of international investors, including those from the United States, Europe, and Asia, showed keen interest. The offering's book was fully covered within a mere hour of its launch, and the entire transaction was successfully concluded within four hours. The pricing of the offering further underscored its success, closing at an approximate 52% premium to the share price as of December 31, 2025.
This successful execution highlights several key impacts. Economically, it underscores the resilience of regional capital markets and the sustained appeal of Omani assets to a global investor base. From an industry-specific perspective, it deepens regional liquidity and effectively connects international capital with premier investment opportunities across the GCC. For EFG Hermes, this deal further solidifies its position as a leading advisor for complex equity capital market mandates in the region. Geopolitically, the transaction's success amidst recent tensions suggests a growing stability and attractiveness of the MENA region for foreign direct investment. The PIF's involvement also aligns with Saudi Arabia's broader Vision 2030, which aims to diversify the kingdom's economy away from oil and requires substantial investment in various sectors.
