Capital Markets
Our capital markets team is recongised as one of the strongest and most sophisticated in Oman. Consistently ranked by global legal directories, the team is regarded as a market leader across the full spectrum of capital market transactions in the Sultanate.
The practice advises on the full suite of equity and debt offerings, including initial public offerings (IPOs) from domestic to international listing, rights issues, private placement, sukuk and conventional bond issuances, derivatives, regulatory compliance, and the structuring and implementation of innovative and complex financial instruments.
We act for major financial institutions, government entities, sovereigns, institutional investors, international companies, multilaterals and other market participants.
Our team is also highly experienced in advising on transactions originating in Oman or involving Omani issuers, borrowers or investors. Our work includes green/renewable bond and note issuances, Euro Medium-Term Note (EMTN) programmes, exchangeable and convertible bonds, sovereign and quasi-sovereign issues, sukuk and collateralised debt obligations (CDOs). We advise offerings conducted under Rule 144A, underscoring our ability to support clients in accessing local and global markets.
In addition to transactional work, we advise regulators, government departments and industry bodies on legislative and policy developments shaping Oman’s capital markets.
Our capital market lawyers work closely with regulatory, banking and finance, restructuring teams to deliver integrated legal advice for all capital markets activities.
Recent Transactions
- Advised issuers and issue managers on the initial public offerings (IPOs) and listings on the Muscat Stock Exchange (MSX), including OQ Gas Network SAOG (OQGN), Dhofar Generating Company SAOG, Oman Reinsurance Company SAOG, Barka Desalination Company SAOG, Musandam Power Company SAOG, Muscat City Desalination Company SAOG, Arabia Falcon Insurance Company SAOG, National Life & General Insurance Company SAOG and Al Ahlia Insurance Co. SAOG.
- Advised Oman Sovereign Sukuk S.A.O.C, the Government of the Sultanate of Oman (represented by the Ministry of Finance), and Bank Muscat SAOG, Meethaq Islamic Banking, Bank Muscat SAOG, Bank Nizwa SAOG, Sohar International Bank SAOG and Sohar Islamic (in their capacity as the issue managers) in connection with the trust certificate issuance programme and the issuance of OMR 100,000,000 trust certificates.
- Acted for the dealers with respect to the update of a trust certificates issuance programme for the issue of a series or tranche of trust certificates by Oman Sovereign Sukuk S.A.O.C. and the Government of the Sultanate of Oman represented by the Ministry of Finance.
- Acted for Abu Dhabi Commercial Bank PJSC, Emirates NBD Bank PJSC, First Abu Dhabi Bank PJSC, HSBC Bank plc, J.P. Morgan Securities plc, Mashreqbank PSC, National Bank of Oman SAOG and Standard Chartered Bank (JLMs) in relation to the issuance by National Bank of Oman SAOG of US$ 450,000,000 Perpetual Tier 1 Capital Securities.
- Advised anchor investors on the initial public offerings of Oman India Fertiliser Company SAOG (OMIFCO), OQ Exploration & Production (OQEP), OQ Base Industries (OQBI) and Asyad Shipping Company.
- Acted as sole legal counsel to Oman Arab Bank S.A.O.G. on its rights issue to increase its share capital through the issuance of new ordinary shares.
- Acted for National Bank of Oman SAOG on the establishment of the NBO Global Fixed Income Fund and the NBO Money Market Fund, both open-ended investment funds.
- Advised Taageer Finance Company SAOG on its unsecured non-convertible subordinated bond issuance by way of private placement.
- Acted for Bank Dhofar SAOG on the setting up of a shariah compliant GCC Equity Fund regulated by Financial Services Authority.
- Advised Bank Muscat SAOG in relation to setting up of an open-ended investment fund titled as Bank Muscat Al Tharwa Fund.
