Mubasher: Phoenix Power said Monday that Qatar Electricity and Water Company (QEWC) sold its entire 9.75% stake in the Omani firm to Nebras Power, a subsidiary of QEWC, according to a bourse filing.

QEWC stake in Phoenix Power amounts to OMR 14.26 million ($36.92 million), while the Omani power company’s capital is valued at OMR 146.26 million distributed across about 1.46 million shares.

Phoenix Power’s stock fell in today’s early trading by 0.68%.