Oman's OMIFCO Surges Up to 23% on Muscat Debut After Record IPO Demand

Shares of Oman India Fertiliser Company (OMIFCO) closed up as much as 23% on their trading debut on the Muscat Stock Exchange on Wednesday, July 8, 2026, rising from an offer price of 0.156 Omani rial to 0.185 Omani rial. The company raised 260.9 million Omani rial (678 million dollars) by floating 25% of its share capital.

Demand for the offering reached around 4.7 billion Omani rial (12.2 billion dollars), making it 18 times oversubscribed and the highest ever recorded demand for any IPO in Oman's history. The strong reception came even as regional shipping continues to grapple with elevated war risk insurance costs for transiting the Strait of Hormuz, suggesting Persian Gulf capital market investors remain confident in regional assets despite the Iran crisis.