18 January 2013
Muscat - The long-awaited initial public offering (IPO) of Oman Arab Bank (OAB) is likely to be launched before mid-2013, according to Abdul Kader Askalan, CEO of OAB.

"We expect the IPO to be launched in the market before mid-2013. Since we have received the approval from the cabinet for the 25 per cent offering, we are seriously negotiating the matter and hoping that we will be able to launch the IPO very soon," Askalan told Muscat Daily.

Ominvest and Jordan-based Arab Bank, the two partners in OAB, will offload 290mn shares in the IPO at a nominal value of 100bz per share.

© Muscat Daily 2013