Latest news with #PromisingCompaniesMarket
Zawya
13 hours ago
- Business
- Zawya
Promising Companies Market regulatory framework to boost Oman's capital market and funding access
Ahmed bin Ali Al Maamari, Executive Vice President of the Financial Services Authority (FSA), affirmed that the issuance of the Promising Companies Market regulation advances the incentive programme to develop the capital market in the Sultanate of Oman. The programme, endorsed by His Majesty Sultan Haitham bin Tarik, may Allah protect and preserve him, aligns with Oman Vision 2040 goals to enhance economic diversification and the investment environment. In an official statement, he highlighted that the regulation provides a flexible framework enabling private, family-owned, emerging, and small and medium enterprises to access alternative financing tools in a transparent, adaptable investment environment. This, he noted, helps create diverse funding opportunities in the local market to meet companies' growth and expansion needs. He explained that the incentive programme includes three main tracks, one of which is establishing the Promising Companies Market as a sub-market within the Muscat Stock Exchange. Its alignment with the regulation, he added, offers more flexible financing options and supports companies in achieving higher levels of institutional maturity and sustainable growth. The regulation, he said, sets out clear listing mechanisms and simplified initial requirements, such as achieving specified annual growth rates, meeting a minimum number of shareholders, and paying fixed, published fees. These measures reduce market entry barriers and improve corporate transformation efficiency. The Executive Vice President invited all eligible private sector companies to explore the financing and listing options offered by the Promising Companies Market. Haitham bin Salem Al Salmi, CEO of Muscat Stock Exchange (MSX), said the creation of the Promising Companies Market represents a key structural development in Oman's capital market system. It will provide a specialised financing channel for emerging, small and medium enterprises, as well as family-owned and private companies, under phased regulatory requirements that enable a smooth transition to the main market. Al Salmi added that the MSX, as the market operator, will offer a fully integrated trading environment supported by advanced technology, flexible disclosure models tailored to growth-stage companies, and governance standards aligned with their nature, which he said would strengthen qualified investor confidence and stimulate market liquidity. He affirmed that the initiative aligns with MSX's strategy to broaden the investor base and diversify investment tools and products, enabling companies to access capital efficiently while enhancing corporate maturity, thereby boosting the competitiveness of the national economy, supporting Oman Vision 2040 goals for private sector development and attracting quality investments. © Muscat Media Group Provided by SyndiGate Media Inc. (
Observer
a day ago
- Business
- Observer
New rules boost Omani capital market growth
MUSCAT: The introduction of the Promising Companies Market Regulations marks a significant step in the Financial Services Authority's (FSA) incentive programme to develop the capital market, in line with Oman Vision 2040's goals for economic diversification and a strong investment climate, said Ahmed bin Ali al Maamari, FSA Deputy CEO. The new rules offer a flexible regulatory framework enabling private, family-owned, emerging, and small and medium-sized enterprises (SMEs) to access alternative financing in a transparent environment. This opens diverse funding options for corporate growth and expansion. The incentive programme has three main pillars, including establishing the Promising Companies Market as a sub-market on the Muscat Stock Exchange. Combined with the new regulations, it offers easier access to finance and helps companies advance towards greater institutional maturity and sustainable growth. The regulations outline clear listing requirements, including annual growth targets, minimum shareholder numbers, and fixed fees, reducing entry barriers and improving corporate transformation. Al Maamari urged eligible private firms to explore these opportunities. Haitham bin Salem al Salmi, CEO of the Muscat Stock Exchange, said the new market is a structural milestone, providing a specialised financing channel for SMEs, family businesses, and private firms. It follows phased regulatory controls, enabling a smooth transition to the main market. He added that the exchange will provide an integrated trading environment with advanced infrastructure, flexible disclosure models, and governance standards tailored to growth-stage companies, boosting investor confidence and market liquidity. The initiative supports the exchange's strategy to broaden the investor base, diversify investment tools, and raise institutional maturity, strengthening Oman's competitiveness and private sector development. — ONA
Muscat Daily
a day 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.
Times of Oman
a day ago
- Business
- Times of Oman
Promising Companies Market regulatory framework to boost Oman's capital market and funding access
Ahmed bin Ali Al Maamari, Executive Vice President of the Financial Services Authority (FSA), affirmed that the issuance of the Promising Companies Market regulation advances the incentive programme to develop the capital market in the Sultanate of Oman. The programme, endorsed by His Majesty Sultan Haitham bin Tarik, may Allah protect and preserve him, aligns with Oman Vision 2040 goals to enhance economic diversification and the investment environment. In an official statement, he highlighted that the regulation provides a flexible framework enabling private, family-owned, emerging, and small and medium enterprises to access alternative financing tools in a transparent, adaptable investment environment. This, he noted, helps create diverse funding opportunities in the local market to meet companies' growth and expansion needs. He explained that the incentive programme includes three main tracks, one of which is establishing the Promising Companies Market as a sub-market within the Muscat Stock Exchange. Its alignment with the regulation, he added, offers more flexible financing options and supports companies in achieving higher levels of institutional maturity and sustainable growth. The regulation, he said, sets out clear listing mechanisms and simplified initial requirements, such as achieving specified annual growth rates, meeting a minimum number of shareholders, and paying fixed, published fees. These measures reduce market entry barriers and improve corporate transformation efficiency. The Executive Vice President invited all eligible private sector companies to explore the financing and listing options offered by the Promising Companies Market. Haitham bin Salem Al Salmi, CEO of Muscat Stock Exchange (MSX), said the creation of the Promising Companies Market represents a key structural development in Oman's capital market system. It will provide a specialised financing channel for emerging, small and medium enterprises, as well as family-owned and private companies, under phased regulatory requirements that enable a smooth transition to the main market. Al Salmi added that the MSX, as the market operator, will offer a fully integrated trading environment supported by advanced technology, flexible disclosure models tailored to growth-stage companies, and governance standards aligned with their nature, which he said would strengthen qualified investor confidence and stimulate market liquidity. He affirmed that the initiative aligns with MSX's strategy to broaden the investor base and diversify investment tools and products, enabling companies to access capital efficiently while enhancing corporate maturity, thereby boosting the competitiveness of the national economy, supporting Oman Vision 2040 goals for private sector development and attracting quality investments.
Observer
2 days ago
- Business
- Observer
Rules issued for Promising Companies Market
BUSINESS REPORTER MUSCAT, AUG 10 The Financial Services Authority (FSA) has announced the issuance of regulations for the Promising Companies Market, a dedicated sub-market within the Muscat Stock Exchange (MSX) created under Royal Decree No. 18/2025. This initiative is part of broader efforts to strengthen Oman's capital market framework, open new financing channels for national companies, and prepare them for a smooth, phased integration into the main market. The regulations aim to create a well-defined legal and operational structure for listing promising enterprises—particularly startups, small and medium-sized enterprises (SMEs), and private or family-owned businesses—within a regulatory environment tailored to their needs. The framework provides financial and operational incentives to help such companies grow, improve governance, and achieve long-term sustainability. Under the new rules, companies can join the Promising Companies Market via two pathways: direct listing or indirect listing. Direct listing involves a company entering the market without raising capital or offering a portion of its shares for private subscription. To qualify, a firm must have recorded net profits over the past three years, achieved an average annual revenue growth of at least 14.4% during that period, and have a shareholder base of at least 20. Indirect listing entails raising capital or offering at least 20% of the company's shares through a private subscription. This method requires a minimum of two years of operational and financial performance. Notably, companies still in the establishment phase can opt for indirect listing without meeting the two-year requirement or submitting audited financial statements, provided they fulfil other stipulated conditions. The listing process has been designed for efficiency. Once all requirements are met, the FSA must respond to applications within three business days; if no reply is issued in that time, the application is deemed approved. However, the MSX reserves the right to delist companies that breach the regulations, following established procedures. Participation in the Promising Companies Market is limited to specific categories of qualified investors, including securities firms, insurance companies, the Social Security Fund, investment funds, and high-net-worth individuals with significant financial or market expertise. Companies listed on the market must comply with the International Financial Reporting Standards for Small and Medium-sized Enterprises (IFRS-SME). This includes disclosing unaudited semi-annual financial statements within 30 days of the half-year's end and audited annual statements within 90 days of the fiscal year's close. They must also adhere to rules governing the disclosure of material information. To maintain market stability, founders' shares are subject to restrictions. For established companies, founders cannot sell shares for one year after listing, though up to 10% may be withdrawn under MSX guidelines. For companies under formation, share sales are prohibited until one fiscal year after registration, with possible extensions at the FSA's discretion. The regulations also outline service fees for listing and issuance, designed to minimise financial burdens on eligible firms. According to the FSA, this framework is a milestone in implementing the Royal Decree and reflects national goals to empower the private sector, foster value-added enterprises, and create an attractive investment climate that broadens Oman's economic base. — ONA
