FSA Launches
Electronic System for Issuing Securities (E-IPO)

Muscat, 23
Feb (ONA) — The Financial Services Authority (FSA) announced the launching of
the first phase of the electronic system for issuing securities (E-IPO). The
move comes within the endeavors of digitalization of the services and
procedures regulating the Omani capital market to ensure easing and
accelerating the transactions between the FSA and the executive entities.

The E-IPO is
the stage of submitting applications and approving issues as the system is an
integrated digital platform designed to regulate issuance and listing
procedures in the Omani capital market.

The system
will provide an electronic environment that contributes to accelerating
operations and enhancing market efficiency. The system was designed in
cooperation between the National Program for Financial Sustainability and
Financial Sector Development “Estidama” and Muscat Clearing and Depository
Company (MCD).
The electronic system for issuing securities would contribute to reducing the
time and effort required to complete issuance procedures and ensures a smooth
flow of information between all parties concerned, which enhances transparency
in financial transactions.The first phase of the electronic issuance system includes three basic
procedures, starting with the procedures for submitting issuance applications,
which include collecting and analyzing financial and legal data related to the
security and ensuring their compliance with the applicable regulations. This
stage also includes issuing initial approvals and providing the necessary
directions to complete the issuance procedures.

The
electronic system is a step forward in the process of issuing securities as it
contributes to accelerating approval processes and facilitate the regulatory
procedures through digital transformation, which would reduce paper
transactions and reduce administrative complexities facing the issuers.
The system is scheduled to include two stages in addition to the stage of
submitting applications and approving the issues, which will be announced later.
The second phase is the book building stage. Meanwhhile, the third stage is the
listing stage on the MSX.
It is worth noting that the FSA continues its efforts to facilitate all
services provided to individuals and institutions as the percentage of digital
transformation in the services provided by the FSA reached more than 93% in 2024.

—Ends/AG