On 23 May 2019, OMN CMA issued takeover and acquisition regulation.
- Issued administrative decision issuing the Takeover and Acquisition Regulation
for public joint stock companies listed on the Muscat Securities Market (MSM).
- Published in Official Gazette on May 19 pursuant to Art. 7 of Capital Market Law.
- Regulation aims to regulate takeover and acquisition processes at not more than
25% of shares of pubic joint stock companies and controlling percentage in firm.
- Transparency and integrity that guarantees the protection of all participants and
allows the market forces to interact with such offers to determine the fair prices.
- Stipulates parties it applies to, such as offeror / offeree, processes of acquisition
and takeover, timing and terms and conditions for takeover or acquisition offers.
- Ensures equal opportunities for all the shareholders to benefit from the takeover.
- The draft was offered for consultation by the public and all the public joint stock
companies, law firms, audit firms and interested persons for their views, opinions.