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VOLTAMP ENERGY IPO TO BE LISTED ON MSM on 17-06-2008 
Issue oversubscribed by 24.3 times; refund process begins
Shares of Voltamp Energy, which mopped up a phenomenal RO 330.3 million through an initial public offering (IPO), will be listed on the Muscat Securities Market (MSM) on 17th of June, Oman Arab Bank, the lead issue manager and financial adviser of the IPO, said.
The final subscription figures made available by OAB showed that the RO 13.5 million IPO collected a whopping RO 330.3 million through 65,527 applications resulting in an oversubscriptions of 24.3 times. The company offered 25,000,000 ordinary shares with an offer price of RO 0.542 per share.
“The refund process has been started by the collecting banks and the shares will be listed on the MSM tomorrow,” said Lo'ai Bataineh, deputy general manager, Investment & Development Investment Management Group, Oman Arab Bank.
“Allotment for individuals who have applied for less than or equal to 10,000 shares is 4.574 percent and for institutions and individuals who have applied for more than 10,000 shares, the allotment percent age is 2.887,” said Lo'ai....more
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