London, 11 May 2021: Helios Towers plc ( Helios Towers , the Group ), the independent telecommunications infrastructure company, and Oman Telecommunications Company ( Omantel ), the largest mobile network operator in Oman, are pleased to announce an agreement for Helios Towers to acquire Omantel s passive tower infrastructure portfolio of 2,890 sites, for a cash consideration of $575 million (the Transaction ). This represents an enterprise value of $615 million including the Group s estimate of transactions costs and capitalised ground leases of $40 million. Through the Transaction, Helios Towers will establish its presence in the Middle-East region, becoming a leading independent tower infrastructure provider in Oman with 2,890 sites. These assets are expected to deliver revenues of $59 million and adjusted EBITDA of $40 million in the first full year of operations with further growth anticipated through colocation lease-up and
MSX index sees growth in first quarter of 2021
By: ONA
Muscat: Muscat Stock Exchange (MSX) posted a positive performance by the end of the first quarter of 2021 (Q1-2021).
MSX main index added 50 points and closed at 3708.71 points, thus breaking the chain of negative performance that shackled the stock exchange since the first quarter of 2017.
The value of traded securities surged dramatically by 143 per cent to OMR85.79 million.
The proportion of companies that disclosed their results stood at 95 per cent. As many as 70 firms made profits. The overall gains aggregated at OMR154 million, with 55 per cent of the total number of companies posting growth in their results in 2021.
MSX index ends marginally higher timesofoman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofoman.com Daily Mail and Mail on Sunday newspapers.
Transformation of MSM to Muscat Stock Exchange completed
By: Times News Service
Muscat: An Omani closed joint stock company has been established under the name of Muscat Stock Exchange (MSX), from Saturday (April 10, 2021) to takeover and undertake all activities and functions of the Muscat Securities Market (MSM).
This was in accordance with the Royal Decree No. 5/2021 issued by His Majesty Sultan Haitham bin Tarik, dated January 5, 2021 (Royal Decree). In accordance with the Royal Decree, all assets, liabilities, activities, rights and functions of MSM stand transferred and assigned to MSX.
The Muscat Stock Exchange will operate under the umbrella of Oman Investment Authority (OIA), which has been established to provide financial solutions to the Sultanate s diverse and growing economic demands.