Oman’s Bank Dhofar Sets Price, Ratio For OMR45m Rights Issue

Oman’s Bank Dhofar, the sultanate’s second-largest lender by assets, has set the share price and the subscription ratio for its upcoming OMR45 million ($116.9 million) rights issue, according to a bourse statement on Monday.

The issue is priced at OMR0.275 a share, the bourse filing said, with shareholders eligible to subscribe to 105 new shares for every 1000 held.

No date was given for the commencement of the rights issue, which is still subject to regulatory approvals from the Central Bank of Oman and the Capital Market Authority.

The lender received shareholder approval for the offering on March 30, which is in addition to the planned capital-boosting bond of $300 million which shareholders have already approved.