Sembcorp Salalah set to list shares on Muscat stock exchange

08 October 2013

Developer Sembcorp Salalah raised $137m through initial public offering

Sembcorp Salalah Power & Water Company, the operator of the Salalah independent water and power project (IWPP), has announced ordinary shares will begin trading on Muscat Securities Market (MSM) on 8 October.

In September, the Sembcorp Salalah Power & Water Company raised OR53 ($137m) through its listing on the exchange. The listing of the shares has been moved forward from the earlier planned date of 10 October.

HSBC Bank Oman acted as issue manager for the offering, while HSBC Bank Middle East acted as sole global coordinator and bookrunner.

The Salalah IWPP began commercial operation in May 2012. The gas-fired plant has a total generation capacity of 490MW and the seawater desalination component has a total water production capacity of 15 million gallons a day (g/d). The developer will provide power to the Oman Power and Water Procurement Company (OPWP) for 15 years.

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