Published: January 11, 2013
Omani bank looks to raise US$26mn from equity markets deal.
Oman’s Bank Sohar is launching a rights issue to raise OMR10.2mn (US$26mn).
The bank is offering existing shareholders 100mn new shares priced at 102 baizas each. The rights issue will be open from January 13 until January 27.
Last year the bank saw its assets rise by almost 25% to OMR1.7bn, while profits increased by nearly 60% to OMR23mn.