Oman: Oman India Fertiliser Company (OMIFCO) announced today in a press conference at its headquarters in the Wilayat of Sur, South A'Sharqiyah Governorate, its intention to float 25% of its shares for public subscription on the Muscat Stock Exchange, following the receipt of the necessary regulatory approvals.
According to Oman News Agency, Dr. Ahmed Said Al Marhoubi, CEO of OMIFCO, explained that the proposed offering represents a significant milestone in the company's journey, through which it aims to enhance governance, transparency, and alignment with approved best practices in public markets. He emphasized the opportunity for investors to invest in a comprehensive fertilizer production company that operates a state-of-the-art industrial complex in Sur Industrial City, featuring ammonia and urea production plants.
The company's operations rely on an integrated system, including long-term gas supply agreements and a dedicated export infrastructure, ensuring access to global markets. The offering will involve up to 25% of the existing ordinary shares in the company's share capital through an initial public offering (IPO), with the right to amend the offering size and structure if necessary.
Dr. Al Marhoubi confirmed that all offered shares are existing ones owned by selling shareholders, meaning the company will not receive any proceeds from the sale. He outlined that shares will be offered within Oman and to certain major investors outside the United States, with the prospectus expected to provide more details post-approval by the Financial Services Authority.
He revealed that subscription periods are anticipated to begin in June, with the company's shares expected to list on the Muscat Stock Exchange by July, contingent on market conditions and regulatory approvals. OMIFCO plans to distribute dividends of approximately RO 71.2 million for 2026, with future distributions expected to align with their growth strategy and profitability projections.
OMIFCO's financial performance as of 2025 included revenues of USD 802.3 million and an EBITDA margin of 50.6%, demonstrating operational efficiency. Founded in 1998, OMIFCO is a joint venture between Oman and India, focusing on ammonia and urea production, having commenced exports in 2005.