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Oman's Sembcorp to launch Salalah IWPP IPO this year
- Oman: Sunday, April 28 - 2013 at 03:37
Oman's Sembcorp Salalah Power and Water Co, which owns and operates Salalah's $1bn independent water and power project (IWPP), is planning to float an initial public offering (IPO) in 2013, Times of Oman has reported. The move is part of a contractual commitment by promoters of the Salalah IWPP with the government, which stipulates that an IPO has to be floated within a certain period of signing the agreement to offload their 35% stake. "We are on track (for floating the IPO), and all agreements are in place," said a company official, without giving further information on the size of the issue or the timeframe for floating the share offer.
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