Apr 19 2012
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EGM nod for Oman Arab Bank's IPO plan
The nod came at an extra-ordinary general meeting (EGM) of OAB held earlier this week, shareholder Oman International Development & Investment Co SAOG (Ominvest) announced yesterday in a disclosure notification to the Capital Market Authority.
Of the 290,000,000 shares (of nominal value of RO 0.100 each) that will be offered for public subscription, 243,600,000 (21 per cent) will come from Ominvest's stake in OAB . The remainder, amounting to 46,400,000 (4 per cent), will come as a result of Arab Bank plc's disinvestment in OAB .
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