Oman’s OQ picks Bank of America and Bank Muscat for $800m gas pipeline IPO

RIYADH: Oman energy company OQ has selected Bank of America and Bank Muscat to assist in the initial public offering of its gas pipeline unit, as the Sultanate steadily moves ahead in its privatization program. 

Quoting people familiar with the matter, Bloomberg reported that the IPO of OQ Gas Network could raise as much as $800 million. The sources, who asked for anonymity, revealed that OQ may consider listing in Muscat and Saudi Arabia’s stock exchange, known as Tadawul.