chapter  8
14 Pages

OMAN'S STOCK MARKET

The Oman Stock Market, officially called the Muscat Securities Market (MSM), was established in June 1988 and trading activities started in 1989. The market began with 68 joint-stock companies, including 19 closed joint-stock companies, having combined paid-up capital of R0255 million ($663 million), and authorized capital of R0290 million ($754 million). Since the inception of trading in 1989, total market capitalization has expanded four-fold, and the value of traded shares has increased about 23 times, from R011,8 million ($31 million) to R0267 million ($694.2 million). At the end of 1996, 145 joint-stock companies including 35 closed joint-stock companies were listed in the MSM, with a total market capitalization of R01,622.4 million ($4,218 million).