Latest news with #CapitalMarketIncentiveProgramme
Muscat Daily
3 days ago
- Business
- Muscat Daily
Promising Companies Market to boost SMEs, startup financing
Muscat – Senior officials from the Financial Services Authority (FSA) and the Muscat Stock Exchange (MSX) have hailed the issuance of the Promising Companies Market regulations as a milestone in Oman's capital market development, saying the new sub-market at the Muscat Stock Exchange will expand funding opportunities for start-ups, SMEs and family-owned businesses, and advance the goals of Oman Vision 2040. Ahmed Ali al Maamari, Executive Vice-President of the Financial Services Authority (FSA), affirmed that the issuance of the Promising Companies Market regulations marks a major step forward in the Capital Market Incentive Programme. This initiative, he said, aligns with the objectives of Oman Vision 2040 to advance economic diversification and foster a more attractive investment climate. On Sunday, the FSA – the regulator of Oman's capital market and insurance sector – issued a decision to promulgate the Regulation for the Promising Companies Market. This follows Royal Decree No 18/2025, which established a secondary market within the Muscat Stock Exchange (MSX) under the name Promising Companies Market. The decision is in line with Royal Directives to launch the Capital Market Incentive Programme. In his statement to Oman News Agency, Maamari explained that the new regulations create a flexible framework enabling private, family-owned, start-up and SME companies to access alternative funding tools within a transparent and agile investment environment. This will generate diverse financing opportunities in the domestic market to support business growth and expansion. He noted that the Capital Market Incentive Programme comprises three main tracks, one of which is the establishment of the Promising Companies Market as a sub-market of the Muscat Stock Exchange. Together with the regulations, this new market will offer more flexible financing options, helping companies reach higher levels of institutional maturity and achieve sustainable expansion. The regulations set out clear and simplified listing requirements for early-stage companies, including specified annual growth rates, a minimum number of shareholders, and fixed, publicly disclosed fees. This approach aims to lower market entry barriers and enhance the efficiency of institutional transformation for these businesses. Maamari urged private sector companies meeting the listing criteria to explore the funding and listing opportunities available through the new market. Haitham Salem al Salmi, CEO of the Muscat Stock Exchange, said the creation of the Promising Companies Market represents a significant structural advancement in Oman's capital market ecosystem. 'It offers a dedicated funding channel for start-ups, SMEs and family-owned private firms through a phased regulatory process, enabling them to transition efficiently and sustainably to the main market'. Salmi added that the Muscat Stock Exchange, as market operator, will provide a comprehensive trading environment supported by advanced technological infrastructure and flexible disclosure models suited to the growth stage of these companies. 'The exchange will also implement governance standards tailored to this segment, bolstering confidence among qualified investors and stimulating market liquidity,' Salmi added. He emphasised that this initiative supports the exchange's strategy to broaden the investor base and diversify investment tools and products. This will enhance companies' access to capital, strengthen institutional maturity, and ultimately boost the national economy's competitiveness while advancing Oman Vision 2040 goals for private sector growth and attracting quality investment.
Muscat Daily
4 days ago
- Business
- Muscat Daily
FSA unveils regulatory framework for Promising Companies Market
Muscat – The Financial Services Authority (FSA), regulator of Oman's capital market and insurance sector, on Sunday issued a decision to promulgate the Regulation for the Promising Companies Market. This follows Royal Decree No 18/2025, which established a secondary market within the Muscat Stock Exchange under the name Promising Companies Market . The decision is in line with the Royal Directives to launch the Capital Market Incentive Programme. The programme aims to enhance Oman's investment and business environment, broaden financing options for all types of companies, strengthen corporate governance and sustainability, improve reliability, and upgrade the Muscat Stock Exchange to emerging market status. It also seeks to expand the investor base, facilitate exits, and boost market liquidity. The new regulation is part of ongoing efforts to strengthen the legislative and regulatory framework for the capital market. It aims to help Omani companies access financing tools and prepare them for gradual integration into the main market through a phased approach. It sets out the procedures and conditions for listing promising companies. These provisions will allow start-ups, SMEs, and private and family-owned enterprises to benefit from a regulatory environment designed for their needs, with financing and operational incentives that support sustainability and growth. Listing options The regulation provides two listing options: direct listing and indirect listing. Direct listing allows a company to list without increasing its capital or allocating shares via private placement. To qualify, the company must have recorded net profits over the past three years, achieved an annual revenue growth rate of at least 14.4% during that period, and have at least 20 shareholders. Indirect listing involves raising capital or allocating shares through private placement. This option requires at least two years of operational and financial performance, offering at least 20% of capital via private placement, and meeting a minimum shareholder requirement. Companies still under establishment can list via the indirect route without meeting the two-year performance requirement or providing audited financial statements, provided they meet the other conditions. The regulation sets out the process for submitting listing applications to the FSA. Once all requirements are met, the Authority will review the application within three working days. If no response is given within this period, the application will be deemed approved. The Muscat Stock Exchange may cancel a listing if there are regulatory breaches, in line with approved guidelines. Trading in the Promising Companies Market is limited to qualified investors. These include licensed securities sector entities, insurance companies, the Social Protection Fund, investment funds, and high-net-worth or financially knowledgeable individuals. Disclosure requirements As per the regulation, listed companies must follow periodic financial disclosure requirements. They must apply the simplified International Financial Reporting Standards for SMEs (IFRS-SME). This includes submitting unaudited semi-annual results within 30 days of the half-year end, and audited annual results within 90 days of the financial year-end. They must also follow disclosure rules for material information under related regulations. The regulation restricts founders from selling their shares for one year from the listing date. However, they may sell up to 10% under exchange rules. For companies under establishment, founders cannot sell their shares until one full financial year after registration, unless the FSA grants an extension. The regulation is accompanied by detailed schedules of service fees for listing and issuance. These reflect the FSA's approach to reducing financial and operational burdens on target companies. The aim is to encourage participation in the market and promote a culture of corporate transformation and capital market financing. The FSA said that this regulation marks an important step in developing the framework for the Promising Companies Market. It translates Royal Decree No 18/2025 into action and supports national objectives to empower the private sector, promote value-added companies, and create an attractive investment climate that diversifies Oman's economy.
Times of Oman
4 days ago
- Business
- Times of Oman
New regulatory framework unveiled for the Promising Companies Market
Muscat: The Financial Services Authority (FSA), regulator of Oman's capital market and insurance sector, has issued Decision No. 28/2025 to promulgate the Regulation for the Promising Companies Market, following Royal Decree No. 18/2025 establishing a secondary market within the Muscat Stock Exchange under the name 'Promising Companies Market.' This decision comes in line with the Royal Directives to launch the Capital Market Incentive Programme, aimed at enhancing the investment and business environment in the Sultanate of Oman, broadening financing options for companies of all types, strengthening corporate governance and sustainability, improving reliability, upgrading the Muscat Stock Exchange to emerging market status, expanding the investor base, facilitating exits and boosting market liquidity. The regulation forms part of ongoing efforts to strengthen the legislative and regulatory framework of the capital market sector, enhancing the ability of Omani companies to access financing tools and preparing them for gradual integration into the main market through a phased approach. It sets out the procedures and conditions for listing promising companies, enabling start-ups, SMEs, and private and family-owned companies to benefit from a streamlined regulatory environment tailored to their needs, with financing and operational incentives that support sustainability and growth. The regulation provides for two listing options, direct listing and indirect listing. Direct listing allows a company to list without increasing capital or allocating part of its shares via private placement. It requires the company to have achieved net profits over the past three years, an annual revenue growth rate of at least 14.4% during that period, and a minimum of 20 shareholders. Indirect listing involves raising capital or allocating part of the shares through private placement, requiring at least two years of operational and financial performance, offering at least 20% of capital via private placement, and meeting a minimum shareholder threshold. Companies under establishment may list via the indirect route without meeting the two-year performance requirement or providing audited financial statements, provided they comply with other stipulated conditions. The regulation outlines the process for submitting listing applications to the FSA, with a three-working-day review period from the date all requirements are met. If no response is given within this period, the application is deemed approved. The Muscat Stock Exchange may cancel a listing in cases of regulatory breaches, subject to approved guidelines. Trading in the Promising Companies Market is restricted to qualified investors, including licensed securities sector entities, insurance companies, the Social Protection Fund, investment funds, and high-net-worth or financially knowledgeable individuals. Listed companies must comply with periodic financial disclosure requirements, applying the simplified International Financial Reporting Standards for SMEs (IFRS-SME). This includes semi-annual unaudited disclosures within 30 days of the half-year end, and annual audited disclosures within 90 days of the financial year end. They are also subject to disclosure rules for material information under related regulations. The regulation restricts founders from selling their shares for one year from the listing date, with a permitted exit of up to 10% under exchange rules. For companies under establishment, founders may not dispose of their shares until one full financial year after registration, with the FSA able to extend this period. It is accompanied by detailed schedules outlining the service fees related to listing and issuance, reflecting the Authority's approach to simplifying the financial and operational burdens on target companies, and contributing to encouraging their participation in the market and promoting a culture of corporate transformation and financing through the capital market. This regulation represents a significant implementation step in developing the regulatory framework for the Promising Companies Market, translating Royal Decree No. 18/2025 into action, and aligning with national objectives to empower the private sector, support value-added companies, and foster an attractive investment climate that diversifies Oman's economic base.
Zawya
22-05-2025
- Business
- Zawya
Oman backs 55 tech startups under Nomu programme
Muscat – Fifty-five technology startups have been accepted into the second edition of the Nomu Programme, an initiative by Ministry of Transport, Communications, and Information Technology (MTCIT) aimed at accelerating the growth of promising early-stage companies. At an introductory meeting held by the ministry on Wednesday, participating startups were briefed on the programme's services, including workshops, one-on-one consultations, marketing support, and business development opportunities. Representatives from key partner organisations – including the 'Madar' platform and the Capital Market Incentive Programme – gave presentations outlining the tools and resources available to participants. The event also featured dialogue sessions with startups from the first edition of the programme, offering an opportunity to share experiences and insights. Ministry officials said the initiative is designed to build an ecosystem where startups in the initial and accelerated growth stages can thrive. 'The programme provides participating companies with the necessary knowledge and skills to grow and expand, both locally and regionally,' a ministry official said. Nomu targets startups with a functioning prototype and a proven user base, as well as those that have secured early-stage funding. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
21-05-2025
- Business
- Muscat Daily
Oman backs 55 tech startups under Nomu programme
Muscat – Fifty-five technology startups have been accepted into the second edition of the Nomu Programme, an initiative by Ministry of Transport, Communications, and Information Technology (MTCIT) aimed at accelerating the growth of promising early-stage companies. At an introductory meeting held by the ministry on Wednesday, participating startups were briefed on the programme's services, including workshops, one-on-one consultations, marketing support, and business development opportunities. Representatives from key partner organisations – including the 'Madar' platform and the Capital Market Incentive Programme – gave presentations outlining the tools and resources available to participants. The event also featured dialogue sessions with startups from the first edition of the programme, offering an opportunity to share experiences and insights. Ministry officials said the initiative is designed to build an ecosystem where startups in the initial and accelerated growth stages can thrive. 'The programme provides participating companies with the necessary knowledge and skills to grow and expand, both locally and regionally,' a ministry official said. Nomu targets startups with a functioning prototype and a proven user base, as well as those that have secured early-stage funding.
