PR
ahlibank Becomes First Bank To Provide Abraj Ipo 1:1 Financing Service Through Mobile App

In line with the bank’s focus on further strengthening its investment banking franchise, ahlibank has been appointed as the Issue Manager for the Initial Public Offer (IPO) of Abraj Energy Services (SAOC), the largest IPO in the Sultanate in over a decade. The Company has appointed ahlibank, EFG-Hermes UAE Limited, and National Bank of Oman as joint global coordinators for the IPO, with ahlibank also acting as the collecting bank for the IPO.
Ahlibank adopted a novel and unique approach in carrying out the subscription operations through the use of the latest digital self-services. The bank provided self- subscription to the IPO through its mobile app and has become the first bank in the Sultanate to provide 1:1 financing option service digitally, and thereby support individual investors to increase their investment in the IPO.
Abraj, a fully owned oil drilling company of OQ (a global integrated energy company with roots in Oman), offered 49% of its share capital, amounting to 377,398,000 shares at a price band of Bzs 242 to Bzs 249, when it opened its initial public offering on February 20. The Company is expected to raise up to OMR 93.97 million in the IPO at the highest end of the price band.
Highlighting ahlibank’s role as the issue manager, Ms. Hanaa Al Kharusi, Senior General Manager, Wholesale Banking, ahlibank, said, “This marked a new phase for ahlibank as Abraj appointed ahlibank to lead manage its IPO, which on listing would be among the top 10 companies on the Muscat Stock Exchange in Oman. As the joint global coordinator and issue manager, ahlibank was at the forefront to ensure the IPO was successful and fulfilled the objectives which OQ and OIA intended to achieve at the commencement of the IPO journey. Our team of qualified experts was at hand to fulfill all the responsibilities as issue managers, and to mitigate any challenges that may have occurred during the IPO process.”
According to her, the IPO is an opportunity to generate investor interest and deliver on the bank’s transformation strategy in the market, with the IPO remaining open for large investors until March 2, and for small investors until March 1. “This is a momentous occasion for ahlibank; as it is in line with ahlibank’s digital transformation strategy, we are the first in the Sultanate to provide financing through ahlibank mobile app. The IPO further strengthened the local investment market and enhanced private sector contribution to the national economy. It is an exciting phase in our young banking journey,” she added.
The IPO is offered in two phases, the first phase represented the institutional offering at a maximum of 85% of the total offering size, and is intended for qualified investors in Oman and international investors outside the United States. The second phase represents the retail segment and the total size of the offering is at least 15%, with the possibility of increasing to a maximum of 35% of the total offering size in the event of an increase in demand, and the size of the offering allocated to the first phase is to be reduced accordingly.
-
OER Magazines2 months ago
OER, July 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, July 25
-
News2 months ago
OpenAI Strengthens ChatGPT’s Mental Health Safeguards Ahead of GPT-5 Launch
-
Energy2 months ago
SOHAR Port and Freezone Signs MoU to Develop Natural Hydrogen Value Chain in Oman
-
OER Magazines3 weeks ago
Dossier – ToP 25 Personalities 2025
-
Banking & Finance2 months ago
Strong Performance and Strategic Approach: ahlibank announces Its Financial Results for the First Half of 2025
-
Economy2 months ago
Najla Zuhair Al Jamali Appointed President of bp Oman
-
News1 month ago
Ooredoo Wins Silver Stevie® Award for Diversity and Inclusion Excellence