Oman Is Said to Pick Lazard to Advise on Power Utility IPO

Oman’s wealth fund has appointed Lazard Inc. to advise on a potential initial public offering of the state power utility, people familiar with the matter said, as the sultanate pushes ahead with a drive to sell shares in government-owned businesses.

The government plans to invite other banks to submit pitches for Oman Electricity Transmission Co.’s listing, the people said, asking not to be identified as the information isn’t public.

Representatives for OETC didn’t respond to requests for comment. A spokesperson for Lazard declined to comment.

The Gulf nation is in the midst of a privatization drive to raise funds and ...