Bank Nizwa announces rights issue at a price of Baizas 95 per share

As part of its strategic roadmap and to boost its growth

  
Bank Nizwa announces rights issue at a price of Baizas 95 per share

Revered as the leading and most trusted Islamic bank in the Sultanate, Bank Nizwa announced the opening of its Rights Issue with subscription period from 7th until 16th September 2021. The Rights Issue consists of new 789,473,685 million ordinary shares at an issue price of Baizas 95 per share aiming to increase the bank’s capital by RO75 million. The rights share shall be payable in full on submission of the application form with the issuer bearing all issue-related expenses. All shares shall be listed on the Muscat Stock Exchange after allotment. By increasing the paid-up capital, Bank Nizwa will be geared up for the next phase of growth and increase returns for shareholders.

As the leading and fastest-growing Islamic bank in the country, Bank Nizwa has outlined broad strategies for the next phase of growth. Firstly, by strengthening capital while simultaneously continue playing its part in contributing to the development of the economy and leading the way as the most prominent Islamic bank in the Sultanate. Observing and learning from the challenges during the pandemic, Bank Nizwa takes benefit in drawing Sharia-compliant banking further and ensure that it registers growth even in exceptional situations.

The growth of Islamic Banking in the Sultanate is most encouraging and has become significant in a short space of time through various support and policy measures adopted by the Central Bank of Oman. In less than eight years, Oman has become the world’s 15th largest Islamic banking industry and commands 15.1 percent share of the Sultanate’s total banking assets as at end-June 2021.

In upholding values of transparency, ethics and fairness in all its endeavors, Bank Nizwa conducts its operations in accordance with the Banking Law, the Islamic Banking Regulatory Framework (IBRF), and the bank’s well-defined policies and procedures. Bank Nizwa has established its position as a bank built on strong corporate principles and has therefore earned the support of its customers and shareholders alike.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release 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. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases