{"id":6614,"date":"2022-06-18T12:26:58","date_gmt":"2022-06-18T07:56:58","guid":{"rendered":"https:\/\/www.sembcorpsalalah.com.om\/?post_type=tribe_events&p=6614"},"modified":"2022-06-18T12:26:58","modified_gmt":"2022-06-18T07:56:58","slug":"sembcorp-salalah-launches-initial-public-offering-3","status":"publish","type":"tribe_events","link":"https:\/\/www.sembcorpsalalah.com.om\/ar\/salalah_news\/sembcorp-salalah-launches-initial-public-offering-3\/","title":{"rendered":"\u0634\u0631\u0643\u0629 \u0633\u064a\u0645\u0628\u0643\u0648\u0631\u0628 \u0635\u0644\u0627\u0644\u0629 \u062a\u0637\u0631\u062d \u0637\u0631\u062d\u0627\u064b \u0639\u0627\u0645\u0627\u064b \u0623\u0648\u0644\u064a\u0627\u064b"},"content":{"rendered":"\n\n\n\n\n\n\n\n\n\n
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  • An established operator backed by government support, strong predictability of cash flows and experienced Project Sponsors<\/li>\n
  • Subscription is now open for Oman\u2019s biggest IPO so far in 2013<\/li>\n<\/ul>\n

     <\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
Muscat, 28 August 2013<\/strong>\u00a0\u2013 Sembcorp Salalah Power & Water Company SAOG (under transformation) (Sembcorp Salalah or the Company), a leading power and water company based in the Dhofar Governorate of Oman, today launched its Initial Public Offering (IPO) of 33,410,019 existing ordinary shares, representing 35% of the issued share capital of Sembcorp Salalah. Shares are priced at OMR 1.590 per ordinary share. The IPO is now open for subscription until 26 September 2013.<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
The IPO is expected to raise around OMR 53 million, which would make it the biggest share offer in Oman so far in 2013. The existing shareholders, Sembcorp Utilities, Oman Investment Company (OIC) and BDCC Investment Company, are required to undertake this IPO and make 35% of the Company\u2019s shares available to the public as the IPO is a condition under the Project Founders\u2019 Agreement.<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Highlights:<\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u2022<\/td>\nIPO of 35% of the issued share capital of Sembcorp Salalah<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nOffer runs from 28 August 2013 to 26 September 2013<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nOffer open to individual investors, juristic persons and institutions within Oman, and to non-Omani investors outside of US, Canada, Australia, South Africa, Republic of Ireland and Japan<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nShares priced at OMR 1.590 per share<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nOffer size of OMR 53 million<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nMarket capitalisation on listing of OMR 152 million<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nFirst day of trading expected to be around 10 October 2013<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nFurther information available from the Issue Manager, HSBC Bank Oman SAOG; the following Collecting Banks: Bank Muscat, Oman Arab Bank, National Bank of Oman and Bank Dhofar; as well as at a dedicated IPO website:\u00a0www.ttct.net\/sembcorp-demo-1\/ipo<\/a><\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Commenting on the launch, Mr Lim Yeow Keong, Chief Executive Officer of Sembcorp Salalah, said, \u201cWe are pleased to offer the public the unique opportunity to invest in Sembcorp Salalah. With an established operation backed by strong government support, our Company allows our shareholders to benefit from a stable business model and strong predictability of cash flows, as well as future growth opportunities. It\u2019s a very exciting time for us as we look forward to welcoming new shareholders into the Company.\u201d<\/p>\n

Mr Tang Kin Fei, Group President & CEO of Sembcorp Industries and Chairman of Sembcorp Salalah, said, \u201cWe are delighted to launch the next stage in Sembcorp Salalah\u2019s development now that we have successfully delivered this plant, which is expected to play a major role in meeting the region\u2019s growing power and water demand for many years to come. Sembcorp Salalah is a world-class operator that benefits from the proven track record of Sembcorp as an established developer, owner and operator of large-scale power and water projects worldwide, and the regional knowledge and experience of OIC. As a long-term shareholder of the Company, we look forward to welcoming new shareholders on board with us.\u201d<\/p>\n

Mr Kalat Al-Bulooshi, CEO of OIC and Deputy Chairman of Sembcorp Salalah, commented, \u201cSembcorp Salalah makes a valuable contribution to Oman through the provision of power and water to the people of Dhofar. This IPO is a great opportunity for Omanis to own a part of the Company, and to be an integral part of the future of both Sembcorp Salalah and the development of Dhofar.\u201d<\/p>\n

About the IPO<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u2022<\/td>\nThe offer period will commence on 28 August 2013 and end on 26 September 2013 at the end of the working hours of the Collecting Banks. It is proposed that the shares will be admitted to trading on the Muscat Securities Market on or around 10 October 2013.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nThe offer is open to Omani and non-Omani individual investors, juristic persons and institutions through two categories.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nThe minimum subscription for Category I investors is 100 shares and in multiples of 100 shares thereafter. For Category II investors, the minimum subscription is 50,100 shares and in multiples of 100 shares thereafter.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nThe maximum subscription for Category I investors is 50,000 shares. For Category II investors, the maximum subscription is 10% of the size of the share offer, which equates to 3,341,000 shares.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nShares are allocated on a proportionate basis and must be 100% pre-funded at the Collecting Banks at the time of subscription.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nThe IPO Prospectus, Articles of Association and Application Forms will be available from the following Collecting Banks throughout the offer period: Bank Muscat, Oman Arab Bank, National Bank of Oman and Bank Dhofar. There is also an IPO section on the Sembcorp Salalah website\u00a0www.ttct.net\/sembcorp-demo-1\/ipo<\/a>, which contains information about the Company and the IPO as well as downloadable copies of the IPO Prospectus and the summary Offer Pamphlet.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

About Sembcorp Salalah:<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u2022<\/td>\nSembcorp Salalah developed, owns and operates an electricity generation and seawater desalination plant, the Salalah Independent Water and Power Plant, located between Taqah and Mirbat in Oman. The plant is located approximately 50 kilometres from Salalah, the administrative town in the Dhofar Governorate.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nThe plant has been in full commercial operation since 25 May 2012 and has a contracted power capacity of 445 megawatts (MW) and a contracted water capacity of 15 million imperial gallons per day (MiGD). It consists of a gas-fired combined cycle power plant and a reverse osmosis seawater desalination plant.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nAs of the date of this announcement, Sembcorp Salalah supplies approximately 72% of the power dispatch and 100% of the net installed water capacity of the Dhofar Governorate.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nThe Company has invested approximately US$1 billion to develop, finance, build, own and operate the plant. It generates its revenues in accordance with a 15-year power and water purchase agreement (PWPA) with the Oman Power and Water Procurement Company (OPWP), which is indirectly wholly-owned by the Omani government.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nAs the largest and most energy-efficient power and water plant in the Dhofar Governorate, the Salalah Independent Water and Power Plant is expected to play a major role in meeting the growing power and water demand of the region into the foreseeable future and beyond.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nSembcorp Salalah is currently 60% owned by Sembcorp Utilities, a wholly-owned subsidiary of Singapore-based Sembcorp Industries, 35% owned by OIC and 5% owned by BDCC Investment Company.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Business Highlights:<\/strong><\/p>\n

Strong predictability of stable cash flows:<\/strong><\/em><\/p>\n\n\n\n\n\n\n
\u2022<\/td>\nSembcorp Salalah has strong predictability of cash flows that are not affected by the amount of power and water actually required by OPWP as the Company is paid on an availability basis, based on the power and water that is made available.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nUnder the PWPA, Sembcorp Salalah is entitled to receive capacity charges from OPWP for 100% of the available power and water capacity of the plant, which comprise approximately 90% of the total revenue of Sembcorp Salalah. These capacity charges are payable by OPWP regardless of whether the actual output of the plant is dispatched by OPWP.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Well-established contractual framework:<\/strong><\/em><\/p>\n\n\n\n\n
\u2022<\/td>\n\u064a\u0639\u062a\u0628\u0631 \u0645\u0634\u0631\u0648\u0639 \u0633\u064a\u0645\u0628\u0643\u0648\u0631\u0628 \u0635\u0644\u0627\u0644\u0629\u060c \u0648\u0627\u062d\u062f\u0627\u064b \u0645\u0646 12 \u0645\u0634\u0631\u0648\u0639\u0627\u064b \u0644\u0645\u062d\u0637\u0627\u062a \u0645\u0633\u062a\u0642\u0644\u0629 \u0644\u062a\u0648\u0644\u064a\u062f \u0627\u0644\u0643\u0647\u0631\u0628\u0627\u0621 \u0648\/\u0623\u0648 \u062a\u062d\u0644\u064a\u0629 \u0627\u0644\u0645\u064a\u0627\u0647 \u0633\u0648\u0641 \u062a\u0646\u0641\u0630\u0647\u0627 \u0627\u0644\u062d\u0643\u0648\u0645\u0629 \u0639\u0628\u0631 \u0627\u0644\u0634\u0631\u0643\u0629 \u0627\u0644\u0639\u0645\u0627\u0646\u064a\u0629 \u0644\u0634\u0631\u0627\u0621 \u0627\u0644\u0637\u0627\u0642\u0629 \u0648\u0627\u0644\u0645\u064a\u0627\u0647 \u0639\u0644\u0649 \u0623\u0633\u0627\u0633 \u0623\u0633\u0644\u0648\u0628 \u201c\u0627\u0628\u0646\u0650 \u0648\u062a\u0645\u0644\u0651\u064e\u0643 \u0648\u0634\u064e\u063a\u0651\u0650\u0644\u201d \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u060c \u0648\u062a\u0633\u062a\u0641\u064a\u062f \u0645\u0646 \u0625\u0637\u0627\u0631 \u0639\u0645\u0644 \u062a\u0639\u0627\u0642\u062f\u064a \u0631\u0627\u0633\u062e. \u0648\u062a\u062a\u0648\u0644\u0651\u064e\u0649 \u0633\u0644\u0637\u0629 \u062a\u0646\u0638\u064a\u0645 \u0642\u0637\u0627\u0639 \u0627\u0644\u0643\u0647\u0631\u0628\u0627\u0621 \u0627\u0644\u0645\u0633\u062a\u0642\u0644\u0629 \u0627\u0644\u062a\u064a \u062a\u0623\u0633\u0633\u062a \u0628\u0645\u0648\u062c\u0628 \u0645\u0631\u0633\u0648\u0645 \u0633\u0644\u0637\u0627\u0646\u064a\u060c \u062a\u0646\u0638\u064a\u0645 \u0642\u0637\u0627\u0639 \u0645\u0634\u0627\u0631\u064a\u0639 \u0627\u0644\u0645\u064a\u0627\u0647 \u0627\u0644\u0645\u0633\u062a\u0642\u0644\u0629 IWP.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Strong government support and stable revenues due to the strategic importance of both the industry and project:<\/strong><\/em><\/p>\n\n\n\n\n\n\n
\u2022<\/td>\nThe power and water sectors are of high strategic importance to the Dhofar Governorate and Oman as a whole. As of July 2013, the plant\u2019s capacity constitutes approximately 72% of the power dispatch and 100% of the net installed water capacity of the Dhofar Governorate.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nGiven the projected growth in electricity and water demand, the plant is expected to remain critical to the continued supply of power and water in the Dhofar Governorate in the long term.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Fully operational project with minimal operating risk:<\/strong><\/em><\/p>\n\n\n\n\n\n\n
\u2022<\/td>\nThe plant is completed and has been in full commercial operation for over 14 months. In addition, Sembcorp Salalah benefits from minimal operating risk as its operator, Sembcorp Salalah O&M Services Company (Sembcorp Salalah O&M), is a joint venture indirectly owned by the Project Sponsors, Sembcorp Utilities and OIC, creating an alignment of interests which ensures that the plant is operated efficiently.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nSembcorp Salalah O&M is managed locally and benefits from the procedures and expertise of Sembcorp Utilities, which is well established in the region and has a demonstrated track record of running similar plants, with facilities of over 5,900 MW of power capacity and over 1,500 MiGD of water in operation and under development globally.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Excess capacity and outage allowance to ensure an extended plant lifespan:<\/strong><\/em><\/p>\n\n\n\n\n\n\n
\u2022<\/td>\nManagement believes that the excess of actual capacity over the contracted capacity of the plant will more than compensate for the estimated degradation of the plant over the term of the PWPA.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nThe PWPA also allows Sembcorp Salalah to perform maintenance on the power plant at designated off-peak periods of the year. This contemplated maintenance is likely to extend the lifespan of the plant and delay the degradation of its electricity and desalinated water capacity.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Mitigation of fuel risks:<\/strong><\/em><\/p>\n\n\n\n\n
\u2022<\/td>\n\u0646\u062c\u062d\u062a \u0645\u062d\u0637\u0629 \u0635\u0644\u0627\u0644\u0629 \u0644\u0644\u0645\u064a\u0627\u0647 \u0648\u0627\u0644\u0643\u0647\u0631\u0628\u0627\u0621 \u0641\u064a \u062a\u062e\u0641\u064a\u0641 \u0645\u062e\u0627\u0637\u0631 \u062c\u0648\u062f\u0629 \u0648\u0627\u0645\u062f\u0627\u062f\u0627\u062a \u0648\u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u063a\u0627\u0632 \u0627\u0644\u0637\u0628\u064a\u0639\u064a \u0627\u0644\u0630\u064a \u0633\u062a\u0632\u0648\u062f\u0647\u0627 \u0628\u0647 \u0648\u0632\u0627\u0631\u0629 \u0627\u0644\u0646\u0641\u0637 \u0648\u0627\u0644\u063a\u0627\u0632 \u0627\u0644\u0639\u0645\u0627\u0646\u064a\u0629 \u0628\u0645\u0648\u062c\u0628 \u0627\u062a\u0641\u0627\u0642\u064a\u0629 \u0628\u064a\u0639 \u0645\u0628\u0631\u0645\u0629 \u0628\u064a\u0646 \u0627\u0644\u062c\u0627\u0646\u0628\u064a\u0646. \u0648\u0641\u064a \u062d\u0627\u0644 \u0639\u062f\u0645 \u062a\u0648\u0627\u0641\u0631 \u0627\u0644\u063a\u0627\u0632 \u0627\u0644\u0637\u0628\u064a\u0639\u064a\u060c \u064a\u062d\u0642 \u0644\u0634\u0631\u0643\u0629 \u0633\u064a\u0645\u0628\u0643\u0648\u0631\u0628 \u0635\u0644\u0627\u0644\u0629 \u0627\u0644\u062d\u0635\u0648\u0644 \u0639\u0644\u0649 \u0627\u0644\u062a\u0643\u0627\u0644\u064a\u0641 \u0627\u0644\u0625\u0636\u0627\u0641\u064a\u0629 \u0627\u0644\u062a\u064a \u062a\u062a\u0643\u0628\u062f\u0647\u0627 \u0641\u064a \u0633\u0628\u064a\u0644 \u0634\u0631\u0627\u0621 \u0627\u0644\u062f\u064a\u0632\u0644 \u0645\u0646 \u0648\u0632\u0627\u0631\u0629 \u0627\u0644\u0646\u0641\u0637 \u0648\u0627\u0644\u063a\u0627\u0632 \u0627\u0644\u0639\u0645\u0627\u0646\u064a\u0629 \u0644\u062a\u0634\u063a\u064a\u0644 \u0645\u062d\u0637\u062a\u0647\u0627\u060c \u0648\u0639\u0644\u0649 \u0631\u0633\u0648\u0645 \u0627\u0644\u0637\u0627\u0642\u0629 \u0627\u0644\u0627\u0646\u062a\u0627\u062c\u064a\u0629 \u0645\u0646 \u0627\u0644\u0634\u0631\u0643\u0629 \u0627\u0644\u0639\u0645\u0627\u0646\u064a\u0629 \u0644\u0634\u0631\u0627\u0621 \u0627\u0644\u0637\u0627\u0642\u0629 \u0648\u0627\u0644\u0645\u064a\u0627\u0647.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Extensive experience of the Project Sponsors:<\/strong><\/em><\/p>\n\n\n\n\n\n\n
\u2022<\/td>\nSembcorp Salalah benefits from the extensive water and energy experience of the Project Sponsors. Sembcorp Utilities is a leading energy, water and on-site logistics group with a strong track record in identifying, securing, financing and executing energy and water projects and has a number of strategic relationships and long-term partnerships with multinational customers. OIC is a private equity investment company with strong experience of investing in the region and a diversified portfolio of investments in the oil and gas, petrochemical, construction and manufacturing sectors in Oman.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\u2022<\/td>\nThe project is strategically important to the Project Sponsors, who provide Sembcorp Salalah with technological and management capabilities and expertise that are critical to its operational success.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Experienced and skilled operational personnel:<\/strong><\/em>.<\/p>\n\n\n\n\n
\u2022<\/td>\nSembcorp Salalah has the advantage of well-trained and experienced personnel, who bring extensive management expertise and the knowledge sharing of know-how accumulated through decades of experience. Sembcorp Salalah personnel are also able to attend training and off-site sessions with personnel of the Project Sponsors around the world in order to share and exchange knowledge and best practices.<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Opportunities for incremental revenue growth:<\/strong><\/em><\/p>\n\n\n\n\n\n\n
\u2022<\/td>\nSembcorp Salalah has two key opportunities for incremental growth of revenues:<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
<\/td>\ni. The expansion of existing facilities to deliver additional desalinated water capacity, in line with the current government policy to minimise use of groundwater, and<\/td>\n<\/tr>\n
<\/td>\nii. The sale of current excess power capacity.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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<\/a><\/p>\n

Download PDF<\/p>\n<\/div>\n

<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

An established operator backed by government support, strong predictability of cash flows and experienced Project Sponsors Subscription is now open for Oman\u2019s biggest IPO so far in 2013   Muscat, 28 August 2013\u00a0\u2013 Sembcorp Salalah Power & Water Company SAOG (under transformation) (Sembcorp Salalah or the Company), a leading power and water company based in the Dhofar Governorate of Oman, today launched its Initial Public Offering (IPO) of 33,410,019 existing ordinary shares, representing 35% of the issued share capital of Sembcorp Salalah. Shares are priced at OMR 1.590 per ordinary share. The IPO is now open for subscription until 26 September 2013. The IPO is expected to raise around OMR 53 million, which would make it the biggest share offer in Oman so far in 2013. The existing shareholders, Sembcorp Utilities, Oman Investment Company (OIC) and BDCC Investment Company, are required to undertake this IPO and make 35% of the Company\u2019s shares available to the public as the IPO is a condition under the Project Founders\u2019 Agreement. Highlights: \u2022 IPO of 35% of the issued share capital of Sembcorp Salalah \u2022 Offer runs from 28 August 2013 to 26 September 2013 \u2022 Offer open to individual investors, juristic persons and institutions within Oman, and to non-Omani investors outside of US, Canada, Australia, South Africa, Republic of Ireland and Japan \u2022 Shares priced at OMR 1.590 per share \u2022 Offer size of OMR 53 million \u2022 Market capitalisation on listing of OMR 152 million \u2022 First day of trading expected to be around 10 October 2013 \u2022 Further information available from the Issue Manager, HSBC Bank Oman SAOG; the following Collecting Banks: Bank Muscat, Oman Arab Bank, National Bank of Oman and Bank Dhofar; as well as at a dedicated IPO website:\u00a0www.ttct.net\/sembcorp-demo-1\/ipo Commenting on the launch, Mr Lim Yeow Keong, Chief Executive Officer of Sembcorp Salalah, said, \u201cWe are pleased to offer the public the unique opportunity to invest in Sembcorp Salalah. With an established operation backed by strong government support, our Company allows our shareholders to benefit from a stable business model and strong predictability of cash flows, as well as future growth opportunities. It\u2019s a very exciting time for us as we look forward to welcoming new shareholders into the Company.\u201d Mr Tang Kin Fei, Group President & CEO of Sembcorp Industries and Chairman of Sembcorp Salalah, said, \u201cWe are delighted to launch the next stage in Sembcorp Salalah\u2019s development now that we have successfully delivered this plant, which is expected to play a major role in meeting the region\u2019s growing power and water demand for many years to come. Sembcorp Salalah is a world-class operator that benefits from the proven track record of Sembcorp as an established developer, owner and operator of large-scale power and water projects worldwide, and the regional knowledge and experience of OIC. As a long-term shareholder of the Company, we look forward to welcoming new shareholders on board with us.\u201d Mr Kalat Al-Bulooshi, CEO of OIC and Deputy Chairman of Sembcorp Salalah, commented, \u201cSembcorp Salalah makes a valuable contribution to Oman through the provision of power and water to the people of Dhofar. This IPO is a great opportunity for Omanis to own a part of the Company, and to be an integral part of the future of both Sembcorp Salalah and the development of Dhofar.\u201d About the IPO \u2022 The offer period will commence on 28 August 2013 and end on 26 September 2013 at the end of the working hours of the Collecting Banks. It is proposed that the shares will be admitted to trading on the Muscat Securities Market on or around 10 October 2013. \u2022 The offer is open to Omani and non-Omani individual investors, juristic persons and institutions through two categories. \u2022 The minimum subscription for Category I investors is 100 shares and in multiples of 100 shares thereafter. For Category II investors, the minimum subscription is 50,100 shares and in multiples of 100 shares thereafter. \u2022 The maximum subscription for Category I investors is 50,000 shares. For Category II investors, the maximum subscription is 10% of the size of the share offer, which equates to 3,341,000 shares. \u2022 Shares are allocated on a proportionate basis and must be 100% pre-funded at the Collecting Banks at the time of subscription. \u2022 The IPO Prospectus, Articles of Association and Application Forms will be available from the following Collecting Banks throughout the offer period: Bank Muscat, Oman Arab Bank, National Bank of Oman and Bank Dhofar. There is also an IPO section on the Sembcorp Salalah website\u00a0www.ttct.net\/sembcorp-demo-1\/ipo, which contains information about the Company and the IPO as well as downloadable copies of the IPO Prospectus and the summary Offer Pamphlet. About Sembcorp Salalah: \u2022 Sembcorp Salalah developed, owns and operates an electricity generation and seawater desalination plant, the Salalah Independent Water and Power Plant, located between Taqah and Mirbat in Oman. The plant is located approximately 50 kilometres from Salalah, the administrative town in the Dhofar Governorate. \u2022 The plant has been in full commercial operation since 25 May 2012 and has a contracted power capacity of 445 megawatts (MW) and a contracted water capacity of 15 million imperial gallons per day (MiGD). It consists of a gas-fired combined cycle power plant and a reverse osmosis seawater desalination plant. \u2022 As of the date of this announcement, Sembcorp Salalah supplies approximately 72% of the power dispatch and 100% of the net installed water capacity of the Dhofar Governorate. \u2022 The Company has invested approximately US$1 billion to develop, finance, build, own and operate the plant. It generates its revenues in accordance with a 15-year power and water purchase agreement (PWPA) with the Oman Power and Water Procurement Company (OPWP), which is indirectly wholly-owned by the Omani government. \u2022 As the largest and most energy-efficient power and water plant in the Dhofar Governorate, the Salalah Independent Water and Power Plant is expected to play a major role in meeting the growing power and water demand of the region into the foreseeable…<\/p>","protected":false},"author":1,"featured_media":0,"template":"","meta":{"_tribe_events_status":"","_tribe_events_status_reason":"","footnotes":""},"tags":[],"tribe_events_cat":[53],"class_list":["post-6614","tribe_events","type-tribe_events","status-publish","hentry","tribe_events_cat-announcements","cat_announcements","description-off"],"_links":{"self":[{"href":"https:\/\/www.sembcorpsalalah.com.om\/ar\/wp-json\/wp\/v2\/tribe_events\/6614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sembcorpsalalah.com.om\/ar\/wp-json\/wp\/v2\/tribe_events"}],"about":[{"href":"https:\/\/www.sembcorpsalalah.com.om\/ar\/wp-json\/wp\/v2\/types\/tribe_events"}],"author":[{"embeddable":true,"href":"https:\/\/www.sembcorpsalalah.com.om\/ar\/wp-json\/wp\/v2\/users\/1"}],"version-history":[{"count":1,"href":"https:\/\/www.sembcorpsalalah.com.om\/ar\/wp-json\/wp\/v2\/tribe_events\/6614\/revisions"}],"predecessor-version":[{"id":6616,"href":"https:\/\/www.sembcorpsalalah.com.om\/ar\/wp-json\/wp\/v2\/tribe_events\/6614\/revisions\/6616"}],"wp:attachment":[{"href":"https:\/\/www.sembcorpsalalah.com.om\/ar\/wp-json\/wp\/v2\/media?parent=6614"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sembcorpsalalah.com.om\/ar\/wp-json\/wp\/v2\/tags?post=6614"},{"taxonomy":"tribe_events_cat","embeddable":true,"href":"https:\/\/www.sembcorpsalalah.com.om\/ar\/wp-json\/wp\/v2\/tribe_events_cat?post=6614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}