Oman: MSX holds dialogue on promising companies market
MUSCAT: Muscat Stock Exchange (MSX) recently convened a meeting with brokerage firms to explore the development of its new 'Promising Companies Market,' a platform designed to attract private and family-owned businesses, SMEs, and startups with a minimum market value of RO 500,000.
The initiative aims to provide these companies with access to diverse financing options through the capital market, helping them expand and adopt robust governance standards to ensure long-term sustainability.
The meeting brought together heads of brokerage departments from across the sector, alongside officials from MSX. Key discussion points included the conceptual framework of the new market, listing mechanisms, disclosure obligations, the role of intermediaries, and technical and regulatory considerations.
Badr bin Hamoud al Hinai, Chief Operating Officer at MSX, emphasised the strategic importance of engaging brokerage firms: 'The Muscat Stock Exchange is committed to forming strong partnerships with brokerage firms due to their essential role in boosting market efficiency. This dialogue reflects our broader commitment to fostering a more advanced and integrated investment environment.'
He added that the new market represents a milestone in creating a secure and agile platform for SMEs to secure funding, highlighting the role of intermediaries in raising awareness, supporting listings, and connecting companies with investors.
Majida al Hanaei, Director of the Incentive Program Initiative under the National ProgramME for Financial Sustainability and Financial Sector Development (Estidama), gave an in-depth presentation on the new platform. She outlined the key features, including listing requirements, qualified investors, the role of brokers, and the listing process itself.
'This market is tailored to the unique needs of promising companies, offering a flexible and regulated environment that facilitates disclosure and operational efficiency,' said Al Hanaei.
'It supports the objectives of the Estidama program by enhancing economic diversification and giving entrepreneurs more effective access to financing.'
The session concluded with a call for greater coordination among all stakeholders to ensure the success of the Promising Companies Market and establish it as a key driver of growth and innovation within Oman's evolving business landscape.
2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
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