Oman’s Electricity Holding Company has received bids from banks pitching to act as financial adviser to the company.

The mandate is described as “fund raising adviser” for the company, although it is not yet clear how much the company is looking to raise.

Bids were submitted on 17 May. A total of 13 companies were invited to pitch for the mandate, with eight responding to the tender, which was launched on 22 March.

The eight companies are:

• The PricewaterhouseCoopers (UK)
• KPMG (UK)
• Royal Bank of Scotland (UK)
• HSBC (UK)
• The Citigroup (US)
• Deloitte & Touche
• Bank Muscat (local)
• The Financial Corporation (local)

Companies which decided not to bid for the mandate include the UK’s Standard Chartered, National Bank of Oman (NBO), and National Bank of Abu Dhab (NBAD).