Listing of Al Maha Ceramics is expected to take place on November 3, in compliance with the proposed listing date stated in the Company’s prospectus, Muscat Daily reported, adding that Investment Management Group, which is affiliated to Oman Arab Bank (OAB), has said that it was worked diligently with the Muscat Clearing and Depository Co. (MCD) to ensure the listing is carried out according to the said prospectus.

OAB had acted as the lead issue manager and financial advisor for the Al Maha Ceramics’ initial public offering (IPO).

The Ceramics Company’s IPO is said to have received overwhelming response from investors, with subscriptions worth more than OMR 155 million through nearly 35,000 applications.

Accordingly, Al Maha’s IPO was oversubscribed nearly 19.5 times as per the final subscription data given by the three collecting banks, said Lo’ai Bataineh, head of the Investment Management Group.