Tuesday, March 07, 2006

Forms for sale at NBO?

In Oman, the new hype nowadays is buying IPO shares. A few days back, one of my staff members comes up to me saying 'please do wasta for me, call someone at NBO and ask them for a form so I can buy Emirates Finance shares'. I said 'wasta?', she goes 'yeah, they don't give it anyone, only some people'. That confused me more. Anyhow, I know a person with a senior post at NBO so I called him up and he said that they stopped distributing the forms because Emirates Finance has not released their shares yet.

Later on in the evening, I mentioned this to my friend and he said that the forms were being sold for RO 10/each. I just cannot digest that. Forms don't come with a price. Some individuals actually have the sick unethical greed to grab a few hundred forms, stash them away and then sell them to people for the equivalent of $25 each. This is just absolutely unacceptable. If anyone knows somebody who has paid for it, it should be reported to the bank because this form of business misconduct is absolutely deplorable and I for one will make noise.

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