Jun 11 2012 |
more articles from
|
OAB defers IPO until September
Muscat: The Capital Market Authority (CMA) has received an official letter from Oman Arab Bank ( OAB ) indicating that the committee tasked by its board of directors, decided to postpone the initial public offering (IPO) of 25 per cent of the bank's capital, scheduled to be offered soon, to next September.It is worth mentioning that last August, OAB has received CMA permission to float 25 per cent of its capital on the local bourse, which is less than the minimum 40 per cent stipulated by the Commercial Companies Law for companies that desire to go public. The move comes in a bid to encourage family Companies to list.
Presently, Ominvest has 51 per cent stake in the Omani bank, while the remaining 49 per cent holding is with Arab Bank . Of the two partners, Oman International Development and Investment Company ( Ominvest ) will dilute 21 per cent or 243.6 million shares and Bahrain-based Arab Bank four per cent or 46.4 million shares.
© Copyright Zawya. All Rights Reserved.
Oddly Enough
- Boston poised to begin condom giveaway in high schools
- Beetles, housefly larvae open new frontier in animal feed sector
- N.Korean leader Kim used luxury yacht to tour coast -website
- NASA wants backyard astronomers to help track asteroids
- CORRECTED-Kimberly-Clark moves to ease Venezuelan toilet paper shortage
- There's More
Related to this article
- QNB Funds the Construction by QAFAC of one of the Largest Carbon Dioxide Recovery Plants in the region
- Masdar hosts CDP carbon reporting awareness sessions in the UAE
- QNB receives Best Bank in Qatar Award from Euromoney
- QNB Hosts The Second Annual Auto Dealers Dinner
News
- Oman Arab Bank



Post Your Comment