Oman’s OQ Said to Tee Up Another IPO Days After $2 Billion Deal

Oman’s state energy company OQ SAOC is set to kick off the initial public offering of its methanol and liquefied petroleum gas unit as soon as the end of this month, according to people familiar with the matter.

The firm is seeking a valuation of between $1 billion to $1.5 billion for OQ Base Industries, the people said, asking not to be named while discussing confidential information.

OQ tapped Morgan Stanley as an adviser on the potential listing, Bloomberg News has previously reported, while at least two local banks are also likely to be hired to work on the ...