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Bloomberg
Oman’s Renaissance Services SAOG, a service provider to the oil and gas industry, is considering an initial public offering for its Topaz Energy & Marine unit, according to people familiar with the matter.
Renaissance, which has a market capitalisation of about $379 million, could seek a valuation of about $1.5 billion for the Dubai-based business, the people said. Goldman Sachs Group Inc. and Morgan Stanley are advising on the share sale, which could take place next year in London, said the people, asking not to be identified.