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Click on the top to follow us (WO) – Oman’s state energy company OQ SAOC is set to kick off the initial public offering of its methanol and liquefied petroleum gas (LPG) unit as soon as the end of this month, according to people familiar with the matter. The firm is seeking a valuation of between $1 billion to $1.5 billion for OQ Base Industries, the people said, asking not to be named while discussing confidential information. The deal would come days after the firm raised a record $2 billion from an IPO of OQ Exploration & Production — the biggest Gulf IPO since Adnoc Gas Plc’s $2.5 billion share sale in 2023. OQ tapped Morgan Stanley as an adviser on the potential listing, while at least two local banks are also likely to be hired to work on the offering, sources close to the matter said. No final decisions have been made on timing or terms of the deal, including valuation. Representatives for OQ Base Industries weren’t immediately available for comment. Oman is in
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