In November 2017, Oman Observer reported that Muscat City Desalination Company (MCDC) had opened its initial public offering for subscription. From 19 November to 18 December 2017, 54,442,640 shares were offered at 116 baisas each, equal to 35% of the capital. Bank Muscat managed the issue. MCDC owned the Ghubrah reverse osmosis plant in Muscat, operating since February 2016, with 191,000 m³/day and an investment of over 100 million rials. The founders were Malakoff International, Sumitomo Corporation and Cadagua.
The report showed that in 2017 a desalination plant in Oman was marketed to a broad investor base, backed by a 20-year offtake contract with the state-owned buyer OPWP.
Source: Oman Observer