The providing will comprise current bizarre shares held by the corporate’s present shareholders, that means proceeds from the sale will go to the promoting shareholders reasonably than to OMIFCO. The subscription interval is predicted to open this month, topic to ultimate regulatory approvals from the Monetary Providers Authority, with buying and selling focused for July if market circumstances stay supportive.
OMIFCO is 50 per cent owned by Oman state power group OQ, whereas Indian Farmers Fertiliser Cooperative Restricted and Krishak Bharati Cooperative Restricted every maintain 25 per cent. The float is predicted to present buyers entry to one in every of Oman’s largest industrial exporters and a fertiliser producer with sturdy publicity to international urea and ammonia demand.
The corporate operates from Sur Industrial Metropolis, the place its complicated consists of two ammonia trains and two urea trains. Annual nameplate capability stands at about 1.15 million tonnes of ammonia and 1.65 million tonnes of urea, making the producer one of many largest fertiliser operators within the Gulf. The enterprise is supported by long-term gasoline provide preparations, established advertising and marketing relationships and export infrastructure, together with a devoted deep-water berth that connects the plant to abroad markets.
The IPO comes at a delicate second for fertiliser provide chains, with Center East producers drawing stronger investor consideration as international costs reply to disruptions in power and transport routes. Urea stays OMIFCO’s dominant income supply, accounting for the majority of gross sales, whereas ammonia gives an extra export stream and helps built-in manufacturing on the Sur complicated.
OMIFCO generated income of $802.3 million in 2025, with an EBITDA margin of fifty.6 per cent and a internet revenue margin of 40 per cent. Income for the primary quarter of 2026 reached $207.4 million, whereas EBITDA margin stood at 50.5 per cent and revenue margin at 40.4 per cent. The corporate has stated it has maintained a internet money place for a number of years and has no interest-bearing debt, a profile prone to characteristic prominently in investor advertising and marketing.
The corporate expects to distribute dividends of about RO71.2 million, equal to roughly $185 million, for the 2026 monetary 12 months. The payout is deliberate in two equal instalments, scheduled for September 2026 and April 2027. For the next two monetary years, dividend steerage is predicted to be linked to both 90 per cent of internet revenue or a minimal annual compounded enhance from the 2026 dividend base, whichever is greater.
The deliberate sale follows a collection of listings and privatisation strikes geared toward increasing the depth of Oman’s capital market. OQ Exploration and Manufacturing’s 2024 itemizing was one of many largest choices within the area that 12 months, whereas Asyad Delivery additionally fashioned a part of the state-linked pipeline of public market transactions. OMIFCO’s proposed itemizing would lengthen that momentum into industrial manufacturing and food-security-linked exports.
Financial institution Muscat and Société Générale have been appointed joint international coordinators for the providing, with Financial institution Muscat additionally appearing as problem supervisor. Arqaam Capital and United Securities are serving as joint bookrunners. The ultimate construction, allocations and investor eligibility phrases can be detailed within the prospectus after approval by the Monetary Providers Authority.
The providing is predicted to incorporate tranches for institutional and retail buyers, with participation ruled by Oman’s rules for public joint inventory firms. Shares may even be provided to chose certified buyers exterior america below relevant securities guidelines, broadening the potential investor base whereas maintaining the formal itemizing on the Muscat Inventory Change.
OMIFCO’s place is carefully linked to demand from agriculture markets, notably urea utilized in crop diet. India has remained a significant vacation spot for its exports, supported by long-term industrial ties with its cooperative shareholders. From 2023 to 2025, the nation accounted for many exported urea volumes and a considerable share of ammonia shipments, reinforcing the corporate’s position in cross-border fertiliser provide.
