Oman's New Takeover Regime

The Capital Market Authority of Oman ("CMA") has published draft legislation governing the takeover of publicly listed Omani companies ("the Rules").

The legislation will fill a large gap in a key area of capital market activity in Oman and practitioners in other financial centres will find it familiar reading.

The Principles

The Rules enshrine the principles of fair and equal treatment of shareholders, full and accurate disclosure and the prohibition of false markets in the shares of offeree and offeror alike. It is noteworthy that the Rules will be passed as binding legislation rather than in the form of a code or set of principles to loosely abide by.

Mandatory Offers