Nawras, Oman’s customer friendly communications provider is celebrating winning the Corporate Finance Award 2011 for its Initial Public Offering (IPO) at the ACT Middle East Deals of the Year Awards. During the recent award ceremony in Dubai, recognition was given for the work of outstanding corporate treasurers and their teams who are dedicated to ensuring that their company maximises its chances of success.
“Nawras has always adopted a pleasingly different approach and the IPO continued this tradition,” said Nawras Chief Financial Officer, Jorgen Latte. He continued, “One of the most important points learnt from the IPO was never to underestimate the need for public information, especially in the retail market. Nawras was first in Oman to introduce the book build process and we devoted a lot of time to ensuring that this was communicated clearly both in Arabic and English languages through various mediums.”
Nawras Treasury Controller, Ali Abdul Sahib Al-Moosa, attended the event and collected the award in recognition of the successful execution and result of the company’s Initial Public Offering (IPO). Nawras IPO was the largest in the Sultanate of Oman since 2005 and the largest to take place in the GCC since 2009.
During the award assessment process, the judging panel of treasurers and advisers working in the Middle East brought their treasury, corporate finance and banking experience combined with in depth knowledge of the different aspects of the markets in the region. From organisations including Agility, Etihad, KPMG, Rothschilds, and ACT, they looked for sound treasury management, efficient pricing, optimal or innovative structures and relative success in prevailing market conditions.
Matthew, Hurn, Executive Director, Mubadala Development Corporation, and Chairman ACT Middle East, said, “The ACTME is delighted to congratulate all the winners of these awards which recognise the work of some outstanding treasurers and their teams in circumstances which have been difficult for a number of years. This is the third year of these awards and they have grown in significance and stature each of those years. We look forward to recognising the growing influence of treasurers and the ACTME in coming years.”
These highly regarded awards recognise companies and individuals that have shown innovation and excellence in corporate treasury over the last 12 months. Awards were given for the Bond, Loan and Corporate Finance deal of the year plus the Treasury Team of the Year. The event was attended by corporate treasurers and finance managers from companies and organisations across the GCC, as well as guests and representatives of the ACT Middle East.