Published: August 6, 2012
Omani bank closes US$250mn funding deal to boost tier 1 capital.
Oman’s Bank Muscat has completed its RO96.7mn (US$250mn) rights issue.
The oversubscribed deal saw the bank issue more than 226mn new shares.
The bank is using the proceeds to enhance its Tier 1 capital and capitalise its Islamic banking business.