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Sohar International Bank (BKSB), rated BAA3 by Moody’s (Stable), has launched a 150 million Omani rial ($390 million) rights issue, with the subscription period running from July 21 until July 26.
The bank will issue 1,059 million shares at a price of OMR 0.141/share.
The final allotment date is July 28, with a listing on July 30.
The Oman bank said the capital raise will strengthen its Tier 1 capital base and overall capital adequacy.
Sohar International and Oman Investment Bank are the issue managers and the financial advisors.
(Writing by Bindu Rai, editing by Seban Scaria)
