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Oman may cut minimum capital for company listing
- Oman: Thursday, February 28 - 2013 at 04:13
Oman's Capital Market Authority (CMA) is considering reducing the minimum capital of OR2m required for a listed company, in a move to encourage family-owned firms to convert their businesses into joint stock companies, Times of Oman has reported. The government will consider a 25% capital dilution as a special case, if family-owned businesses are interested in listing their companies. Family businesses play an important role in the economy in Oman, as well as in the entire Gulf region, said the chairman of the CMA, Yahya Said Al Jabri. "In the GCC region, family businesses constitute 90 per cent of total number of companies. It helps in creating employment opportunities for youths," noted Al Jabri, who is also the chairman of Duqm Free Trade Zone.
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