The Oman Gateway Fund (OGF) made its debut on the Muscat Securities Market last week, successfully raising $70M in its initial public offering (IPO).
This event marks a significant milestone as OGF becomes the first listed mutual fund in Oman. United Securities, the brokerage company managing the fund, announced that the subscription period concluded on 12 February.
IPO Ahead of IFC Oman
Oman launched its first financial centre earlier this year, with IFC Oman aiming to come online towards the end of FY26.
IFC Oman aims to “leverage Oman’s strengths such as political neutrality, economic and financial stability, strategic geographic location, cultural diversity, and strong international relationships,” according to Ominvest economist: Azza Al-Habsi.
The launch of IFC Oman could make it easier for mutual funds to be managed and listed in the Sultanate by introducing international fund regulations, attracting global asset managers and enabling cross-border investment distribution.
Such measures would likely increase the number of listed funds on the Muscat Securities Market, deepen market liquidity, and position Oman as a regional asset-management hub: potentially building on early listings such as the Oman Gateway Fund.
Investor Confidence Despite War
Despite the ongoing conflict between Iran and the United States, local investors in Oman remain undeterred in their pursuit of long-term financial security.
A mutual fund adviser at the Muscat Securities Market highlighted that investor confidence persists, with the belief that the current regional tensions will eventually subside.
The Muscat Securities Market recorded a closing index of 7,344 points on Thursday, reflecting a 20% increase YoY on FY25.
Since the beginning of 2023, Omani companies have collectively raised approximately $4B through IPOs, predominantly from state-controlled enterprises.
The MSM’s total market capitalisation has seen a YoY uptick of 16%, reaching OMR 32B ($83B).
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