• About Us
  • Contact us
  • Editorial Policy
  • Terms & Conditions
  • Privacy Policy
Thursday, September 28, 2023
SUBSCRIBE
London Daily Post
  • Home
  • UK
  • World
  • Business
  • Politics
  • Finance
  • Tech
  • Entertainment
  • Lifestyle
  • Sports
No Result
View All Result
  • Home
  • UK
  • World
  • Business
  • Politics
  • Finance
  • Tech
  • Entertainment
  • Lifestyle
  • Sports
No Result
View All Result
London Daily Post
No Result
View All Result
ADVERTISEMENT

Oman’s sovereign wealth fund eyes tech investments in UK – News

Editorial Board by Editorial Board
October 26, 2022
in UK
Reading Time: 3 mins read
0


Oman plans to take 30 companies public over the next five years



Interior of the departure terminal at Muscat International Airport, Oman.  The OIA invited investors two weeks ago to look for opportunities in the mining sector and is also planning the same for the fisheries sector.

Interior of the departure terminal at Muscat International Airport, Oman. The OIA invited investors two weeks ago to look for opportunities in the mining sector and is also planning the same for the fisheries sector.

By Reuters

Published: Wednesday, October 26, 2022, 3:56 p.m

Last update: Wednesday, October 26, 2022, 3:57 p.m

Oman’s sovereign wealth fund, the Oman Investment Authority, is considering investing in the UK’s technology sector to take advantage of valuations hit by rising interest rates and falling sterling, it said. said an OIA executive on Wednesday.

Ibrahim Al Eisri, managing director of private equity at OIA, told Reuters the wealth fund was looking for unlisted UK technology companies and scaling them up.

The UK economy is experiencing a cost of living crisis as Rushi Sunak became its third prime minister in two months on Tuesday.

“We are looking at some deals right now, given that the market offers an opportunity to get in right now,” he said on the sidelines of FII, Saudi Arabia’s flagship annual investment conference.

Al Eisri said now was the best time to monetize assets compared to two years ago amid the Covid-19 pandemic, adding that OIA had exited four investments outside Oman last year.

The region’s oil giants, Saudi Arabia’s Aramco and Abu Dhabi’s Adnoc, have in recent years raised tens of billions of dollars through IPOs, including those of Aramco and various subsidiaries and companies Adnoc joint ventures, in addition to selling stakes in its gas pipeline infrastructure.

Oman plans to take 30 companies public over the next five years, he said.

The Gulf is enjoying an IPO boom at the moment, with the governments of Saudi Arabia, Abu Dhabi and Dubai pushing for state-led listings to make their equity markets more competitive.

Issuers in the region have raised more than $15 billion from IPOs in the year to mid-October, according to data from Refinitiv. The data showed its first-half earnings outperformed European shares, even as global markets remained volatile due to Russia’s invasion of Ukraine.

He added that the OIA invited investors two weeks ago to look for opportunities in the mining sector and is also planning the same for the fisheries sector.

The fund focuses on alternative energy technology, logistics and messenger RNA technology used in some Covid-19 vaccines. He added that the OIA is close to investing in a port in Zanzibar.



Source link

Share this:

  • Twitter
  • Facebook

Related Posts

UK

Lib Dem conference: Sir Ed Davey to underline health pledges as he promises to ‘fix our economy with care’ | Politics News

September 25, 2023

Sir Ed Davey will close this week's Liberal Democrat conference by promising to "fix our economy with care" after the...

UK

Woman arrested as police investigate three suspected poisoning deaths | UK News

September 22, 2023

A woman has been arrested on suspicion of administering a noxious substance as police investigate potential links between the deaths...

UK

Avanti West Coast and CrossCountry rail contracts renewed – despite ‘disastrous’ 2022 for Avanti | Business News

September 19, 2023

Avanti West Coast has had its contract renewed to operate its UK rail routes, despite issues with delays and cancellations.Both...

UK

Russell Brand plays comedy show after rape and sexual assault allegations | Ents & Arts News

September 16, 2023

Russell Brand has appeared live on stage in London hours after being publicly accused of rape and sexual assault.The comedian...

Next Post

Luxury Lifestyle Web3 Company Jetset Token to Throw Star-Studded Halloween Bash Near LA

POPULAR

Entertainment

‘Wheel Of Fortune’ May Have Just Aired One Of Its Most Bonkers Answers Ever

September 27, 2023
World News

Russia-Ukraine war news: Russia claims Admiral Viktor Sokolov is alive

September 27, 2023
Entertainment

‘NCIS’ Star David McCallum Dead At 90

September 25, 2023
  • About Us
  • Contact us
  • Editorial Policy
  • Terms & Conditions
  • Privacy Policy

© 2022 London Daily Post. All Rights Reserved.

No Result
View All Result
  • Home
  • UK
  • World
  • Business
  • Politics
  • Finance
  • Tech
  • Entertainment
  • Lifestyle
  • Sports