OQ Gas Networks (OQGN) announced that the institutional tranche, comprising 40% of the total offering, has been covered multiple times on the very first day of the IPO subscription period. This impressive response demonstrates the high level of demand for shares in OQ Gas Networks Company among institutional investors.

The Category 1 offer, designated for institutional investors, has been covered multiple times at the maximum price of 140bz, as of the close of business on the initial day of the book building process. OQ Gas Networks has made available a total of 848 million shares for Category 1, with institutional investors having the opportunity to subscribe to a minimum of 100,000 shares, and no upper limit for subscription.

The institutional subscription period will continue until October 9th, while retail investors interested in Category II can subscribe until October 5th.

Source: Oman News Agency