Oman Bails Out Securities Market
The Oman Government is to invest 50m rials ($129,881m) in the Muscat Securities Market to restore liquidity and win back big investors, Mid-East Financial Information (AME Info) reported Tuesday.
The market, according to AME, has fallen 29 percent this year, despite a huge hike in oil revenues. Firms are being provided with incentives to merge, and smaller investors are being bailed out.
When trading began in 1989, there were only 47 publicly listed companies at MSM. By January of 1998, there were 123 publicly listed companies and funds. Of these 56 were open to all foreign investors, normally up to a limit of 49% foreign ownership -- Albawaba.com
© 2000 Al Bawaba (www.albawaba.com)