In January 2022, Barka Desalination Company (BDC), owner of the Barka IWP seawater desalination plant, announced an IPO, Muscat Daily reported. 40% of its share capital, or 30,208,800 shares, was to be offered on the Muscat Stock Exchange in a price range of 115 to 145 baisa. The reverse osmosis plant had operated commercially since June 2018 and sold its water to state-owned OPWP under a purchase agreement until 2038. BDC was founded by ITOCHU, ENGIE, SUEZ and WJ Towell Group and met 23% of Oman's water demand.
The report shows how a desalination plant backed by a long-term state offtake agreement was offered to retail investors; it was also the first IPO in Oman under new pricing rules from the Capital Market Authority.
Source: Muscat Daily