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$748m Omantel IPO

Oman Telecommunications intends to raise $748m in its initial public offering that is likely to open on June 11 and close July 10, reported Reuters. Omanis will be able to buy the stock in the first three months, after which outside investors will be allowed to own it. A 30% stake will be sold; 21% for Omani individuals and the balance for local institutions.