Oman's Islamic lender, Bank Nizwa, has priced its rights issue at 95 baizas ($2.47) per share with subscription running from September 7-16.

The bank will issue 789,473,685 million new ordinary shares with the aim of increasing its capital by 75 million rials, Bank Nizwa said in a statement on Monday.

The bank made a Q2-2021 net profit of 3 million rials, a 2 percent drop compared with the net profit for the same quarter in 2020.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@refinitiv.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021