Investors have already offered $105 million towards Voltamp's initial public offering, said an official at financial advisor Oman Arab Bank.

The figure is three times more than the company is seeking with five days still remaining for the sale to end.

"We received $105 million, from $35 million we required," said an official at Oman Arab Bank, who declined to be identified.

Voltamp, a unit of Oman's Al Anwar Holdings that makes power transformers and switching gear, is looking to raise 13.55 million rials ($35.19 million) in Oman's first IPO this year. The sale started on May 12.

The Muscat Securities Market said in March it was expecting as many as three companies to sell shares in IPOs this year. Oman's Sohar Power Co said last month it would sell a 35 percent stake in a June IPO.

"There's so much liquidity in the market that any IPO coming along will be snapped up within days," said Anil Kumar, vice president at Omani brokers, Fincorp.

Last September, investors offered 13 times more than the $156 million Galfar Engineering & Contracting Co, Oman's biggest construction company, was looking to raise in the country's second-biggest IPO. - Reuters