Royal directives to convert companies into joint stock companies and list them in stock markets

Muscat: Pursuant to the Council of Oman’s keenness to develop the capital market sector, activate its role as funding option, enhance the contribution of commercial companies to the local economy and to augment the market value of Muscat Stock Exchange and to increase the number of companies listed therein, His Majesty the Sultan issued Royal directives to launch an incentive programme that comprises a number of initiatives to convert companies interested in the aforementioned programme into joint stock companies and list them in stock markets.

The Royal directives also provide for the establishment of a secondary market at Muscat Stock Exchange, to be named “Promising Companies Market”, that targets private firms, family companies, small and medium enterprises (SMEs) and startups.