New OIA Affiliates to List on MSX in 2026: What This Means for Investors and Business Growth in Oman
MUSCAT: The Muscat Stock Exchange (MSX) has experienced remarkable activity in 2025, with trading volumes in the first eight months reaching approximately RO 1.9 billion—an impressive 152% increase compared to the same period last year.
In August, the average daily trading volume peaked at around RO 25 million, marking the highest level recorded this year, compared to RO 20.3 million in July and RO 12.7 million in June. The lowest daily averages occurred earlier in the year: RO 3.7 million in January, RO 5.4 million in April, RO 6.2 million in March, and RO 7.1 million in May.
Haitham bin Salem al Salmi, CEO of MSX, attributed this surge in trading volumes to active market-making initiatives and enhanced liquidity, supported by the activation of two liquidity support funds. He highlighted that 2025 trading volumes have already surpassed the entire figure for 2024, fueled by positive market sentiment and heightened investor engagement. Consequently, the MSX index rose by 5.2% by the end of August compared to the end of 2024, with market capitalisation increasing by 8% during the same period.
Al Salmi announced plans for new listings in 2026, featuring companies affiliated with the Oman Investment Authority. He encouraged investors to prepare by adopting informed investment strategies, including thorough reviews of company disclosures and financial statements, while also considering regional geopolitical and economic factors.
He further noted strong financial performance among MSX-listed companies, with combined profits reaching RO 881 million in the first half of 2025—a 20% rise from the same period last year. Increased dividend payouts have also made high-growth and high-dividend companies more attractive to investors.
Al Salmi emphasized that initial public offerings (IPOs) conducted last year have expanded the market by introducing new sectors and diversified financial instruments, helping investors broaden their portfolios and fostering greater market vibrancy. Looking ahead, he expressed optimism that ongoing government privatisation and IPO initiatives will continue to stimulate the market and support MSX’s ambition to achieve emerging market status.
Ahmed bin Ali al Maamari, Deputy CEO of the Capital Market Authority (CMA), outlined several collaborative initiatives aimed at stimulating and developing Oman’s capital market. These include efforts to list more companies on MSX and encourage them to utilize the market for funding expansion, which enhances market depth and attracts both local and international investment.
Al Maamari pointed out that by the end of 2024, MSX’s market capitalisation had grown by 15.93% compared to 2023. This positive trend has persisted into 2025, reaching RO 29.82 billion by the end of August.
He highlighted the launch of a national capital market stimulus programme designed to boost investor confidence. This programme features a range of incentives intended to improve the investment climate and broaden access to diverse financing options.
Among regulatory advancements, several market participants have been licensed—including three local companies and one foreign market maker—to support market-making and liquidity provision, thereby enhancing free float shares and overall market efficiency.
Al Maamari added that the CMA is simplifying the investor experience by introducing digital trading platforms for licensed brokerage firms, making investment more accessible and efficient. These efforts, combined with the active participation of institutional and individual investors, have contributed to improved market performance. The CMA also plans to introduce new financial instruments and reinforce the role of licensed firms, particularly brokers.
— ONA
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The Muscat Stock Exchange’s remarkable 152% surge in trading volumes and rising market capitalization signal a vibrant investment climate fueled by enhanced liquidity and government-backed initiatives. Businesses in Oman have new opportunities to leverage public capital for expansion, especially with upcoming IPOs linked to the Oman Investment Authority, while investors should strategically evaluate diversified portfolios amid regional economic sensitivities and evolving market infrastructure. Smart entrepreneurs and investors must focus on informed decision-making, leveraging new digital trading platforms, and capitalizing on the deepening market and regulatory enhancements to maximize growth potential.
