Oman: Oref IPO helps MSM to crank up

Another initial public offering (IPO), for Oman Real Estate Fund (Oref), is listing on the Muscat Securities Market (MSM). It follows the Aman REIT listing, which last year raised $52.5m and was the first Middle East and North Africa (Mena) IPO of 2020, according to consultancy EY’s Mena IPO Eye Q4 2020 report. Prior to its full listing, Oref traded on the MSM parallel market, giving it capital of OR65.5m ($170.4m), divided into 654.8m units, the Times of Oman reported.