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X-WR-CALNAME:Sembcorp Salalah Power and Water Company
X-ORIGINAL-URL:https://www.sembcorpsalalah.com.om
X-WR-CALDESC:Events for Sembcorp Salalah Power and Water Company
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DTSTART:20130101T000000
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BEGIN:VEVENT
DTSTART;VALUE=DATE:20130915
DTEND;VALUE=DATE:20130916
DTSTAMP:20260406T111740
CREATED:20220618T075241Z
LAST-MODIFIED:20220618T075241Z
UID:6611-1379203200-1379289599@www.sembcorpsalalah.com.om
SUMMARY:Sembcorp Salalah IPO Roadshow Attracts Investor Interest
DESCRIPTION:Muscat\, 15 September 2013 – Sembcorp Salalah Power & Water Company (“Sembcorp Salalah” or “the Company”)\, a leading power and water company based in the Dhofar Governorate of Oman\, has attracted significant investor interest across the Gulf region during the company’s roadshow meetings with some of the most influential investors in the region. \nThe IPO roadshow\, which started on 28th August\, has seen senior management meeting top investors across Oman\, Qatar\, the UAE and the Kingdom of Saudi Arabia\, reflecting the strong level of investor interest in the Company\, and in Oman from across the region. \nThe IPO of 33\,410\,019 existing ordinary shares\, which was launched on 28 August\, represents 35% of the issued share capital of Sembcorp Salalah. The shares will be priced at OMR 1.590 per share\, inferring a total offer size of OMR 53 million and a market capitalisation on listing of OMR 152 million. The IPO offer period ends on 26 September 2013 and the shares are expected to be admitted to trading on the Muscat Securities Market on or around 10 October 2013. The offering is expected to be the biggest in Oman this year. \nCommenting on the favourable reaction by investors\, Mr Lim Yeow Keong\, Chief Executive Officer of Sembcorp Salalah\, said\, “The IPO marks a milestone in Sembcorp Salalah’s history and we are very pleased by the positive reception and the significant level of investor interest we have seen so far. We are seeing interest from individual and institutional investors who share our view that the offer represents a good opportunity for investors to benefit from the stable revenues\, strong Omani government support\, and attractive future dividend yield of Sembcorp Salalah. \n“The roadshow is providing a great experience to meet face-to-face with potential investors in Sembcorp Salalah across the region and we look forward to becoming a publicly listed company and broadening our existing shareholder base.” \n\n\n \nDownload PDF
URL:https://www.sembcorpsalalah.com.om/salalah_news/sembcorp-salalah-ipo-roadshow-attracts-investor-interest-3/
CATEGORIES:Announcements
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BEGIN:VEVENT
DTSTART;VALUE=DATE:20130918
DTEND;VALUE=DATE:20130919
DTSTAMP:20260406T111740
CREATED:20220618T075044Z
LAST-MODIFIED:20220618T075044Z
UID:6608-1379462400-1379548799@www.sembcorpsalalah.com.om
SUMMARY:One Week Until Sembcorp Salalah IPO Offer Close
DESCRIPTION:Muscat\, 18 September 2013 – Sembcorp Salalah Power & Water Company (“Sembcorp Salalah” or “the Company”)\, a leading power and water company based in the Dhofar Governorate of Oman\, has begun the countdown to the completion of its Initial Public Offering (IPO)\, which launched on 28 August. The IPO\, which has seen strong interest from investors across the Sultanate and the broader Gulf region\, closes for subscription on 26 September 2013.\n\n\n\n\n\nThe IPO of 33\,410\,019 existing ordinary shares represents 35% of the issued share capital of Sembcorp Salalah. The shares will be priced at OMR 1.590 per share\, inferring a total offer size of OMR 53 million and a market capitalisation on listing of OMR 152 million. The offering is expected to be the biggest in Oman this year. It is proposed that the shares will be admitted to trading on the Muscat Securities Market on or around 10 October 2013.\n\n\n\n\n\nHSBC Bank Middle East Limited is the Sole Global Coordinator and Bookrunner. HSBC Bank Oman SAOG is the Issue Manager. Retail investors with an interest in participating in the IPO are encouraged to complete and submit their applications in any of the Collecting Banks which include Bank Muscat\, Oman Arab Bank\, National Bank of Oman and Bank Dhofar.\n\n\n\n\n\nCommenting on the IPO\, Mr Lim Yeow Keong\, Chief Executive Officer of Sembcorp Salalah\, said\, “With only one week to go until our share offer closes\, investors in Oman have a limited period in which to participate in our IPO. We are very excited by the widespread positive investor sentiment and significant interest in the Sembcorp Salalah offer that we have seen over the past three weeks. During this time we have presented investors across Oman and the broader Gulf region with a fantastic opportunity to invest in an established operator with strong predictability of cash flows that will result in stable recurring income\, a highly attractive dividend yield and opportunities for growth.”\n\n\n\n\n\n“As we enter the final week of the subscription period\, we are still seeing a strong level of demand for the offer\, and I look forward to a successful completion on the 26 September.”\n\n\n\n\n\nAbout the IPO\n\n\n\n\n\n\n•\nThe offer period commenced on 28 August 2013 and will 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.\n\n\n\n\n\n\n•\nThe offer is open to Omani and non-Omani individual investors\, juristic persons and institutions through two categories.\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n•\nShares are allocated on a proportionate basis and must be 100% pre-funded at the Collecting Banks at the time of subscription.\n\n\n\n\n\n\n•\nThe IPO Prospectus\, Articles of Association and Application Forms are 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 www.ttct.net/sembcorp-demo-1/ipo\, which contains further information.\n\n\n\n\n\n\n\n\n\nAbout Sembcorp Salalah:\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n•\nSembcorp Salalah is currently 60% owned by Sembcorp Utilities\, a wholly-owned subsidiary of Singapore-based Sembcorp Industries\, 35% owned by Oman Investment Corporation (OIC) and 5% owned by BDCC Investment Company\, which is managed by Instrata.\n\n\n\n\n\n\n\n\n\n\n\n\n\nBusiness Highlights: \nStrong predictability of stable cash flows: \n\n\n\n•\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.\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n\nWell-established contractual framework: \n\n\n\n•\nSembcorp Salalah’s project represents one of 12 independent power and/or water production projects to be implemented by the government through OPWP on a “build\, own and operate” basis and benefits from a well-established contractual framework.\n\n\n\n\n\n\n\nStrong government support and stable revenues due to the strategic importance of both the industry and project: \n\n\n\n•\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’s capacity constitutes approximately 72% of the power dispatch and 100% of the net installed water capacity of the Dhofar Governorate.\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n\nFully operational project with minimal operating risk: \n\n\n\n•\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. Sembcorp Salalah O&M is managed locally and benefits from the procedures and expertise of Sembcorp Utilities\, which is well established and has a demonstrated track record of running similar plants across the continents\, with facilities of over 5\,900 MW of power capacity and over 1\,500 MiGD of water in operation and under development globally.\n\n\n\n\n\n\n\nExcess capacity and outage allowance to ensure an extended plant lifespan: \n\n\n\n•\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.\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n\nMitigation of fuel risks: \n\n\n\n•\nUnder the natural gas sales agreement between Sembcorp Salalah and the Ministry of Oil & Gas\, the plant has mitigated risks associated with gas quality\, gas supply and gas price. In the event that natural gas is not available\, and provided that Sembcorp Salalah is not in breach of its obligations regarding the operations of the plant\, Sembcorp Salalah is still entitled to receive its incremental costs for the use of diesel from the Ministry of Oil & Gas and capacity charges from OPWP.\n\n\n\n\n\n\n\nExtensive experience of the Project Sponsors: \n\n\n\n•\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.\n\n\n\n\n\n\n•\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.\n\n\n\n\n\n\n\nExperienced and skilled operational personnel:. \n\n\n\n•\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.\n\n\n\n\n\n\n\nOpportunities for incremental revenue growth: \n\n\n\n•\nSembcorp Salalah has two key opportunities for incremental growth of revenues:\n\n\n\n\n\n\n\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\n\n\n\nii. The sale of current excess power capacity.\n\n\n\n\n\n\n\n  \n  \n\n\n \nDownload PDF
URL:https://www.sembcorpsalalah.com.om/salalah_news/one-week-until-sembcorp-salalah-ipo-offer-close/
CATEGORIES:Announcements
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BEGIN:VEVENT
DTSTART;VALUE=DATE:20130926
DTEND;VALUE=DATE:20130927
DTSTAMP:20260406T111740
CREATED:20220618T074707Z
LAST-MODIFIED:20220618T074707Z
UID:6605-1380153600-1380239999@www.sembcorpsalalah.com.om
SUMMARY:Sembcorp Salalah Announces Closing of Initial Public Offering
DESCRIPTION:OMR 53 million raised in Oman’s largest IPO of 2013\n\n\n\n\n\n\nMuscat\, 26 September 2013 – 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 announced the successful closure of its initial public offering of 35% of the total share capital\, or 33\,410\,019 existing ordinary shares\, at a price of OMR 1.590 per share. The issue was opened for subscription on 28 August 2013 and closed on 26 September 2013.\n\n\n\n\n\nThe offering\, which raised OMR 53 million\, making it the largest in Oman this year as well as one of the largest in the region\, was comfortably oversubscribed and attracted strong levels of demand from both retail and institutional investors across the Sultanate\, the GCC and Europe. This implies an opening market capitalisation of OMR 152 million. Trading of the company’s shares is set to commence on the Muscat Securities Market on or around 10 October 2013.\n\n\n\n\n\nHSBC Bank Oman SAOG acted as Issue Manager for the offering. HSBC Bank Middle East Limited acted as Sole Global Coordinator and Bookrunner.\n\n\n\n\n\nCommenting on the offer close\, Mr Lim Yeow Keong\, Chief Executive Officer of Sembcorp Salalah\, said\, “We are delighted by the response we have received from such a wide range of investors in Oman and across the region. The overwhelming support and warm welcome we have received reflects the confidence in Sembcorp Salalah’s stable business model and recognises this unique opportunity to invest in an established operator with strong government support and strong predictability of cash flows.”\n\n\n\n\n\n“We are thrilled to welcome our new investors to the Sembcorp Salalah shareholder register and we look forward to delivering on our commitment to meet the Dhofar region’s growing and long-term power and water demand.”\n\n\n\n  \n\n\n \nDownload PDF
URL:https://www.sembcorpsalalah.com.om/salalah_news/sembcorp-salalah-announces-closing-of-initial-public-offering/
CATEGORIES:Announcements
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