Oman’s Bank Dhofar Gains Board Approval For $117m Rights Issue

The board of Bank Dhofar, Oman’s second largest lender by assets, has approved a rights issue worth OMR45 million ($116.9 million), subject to regulatory assent, it said on Monday.

The rights issue would be in addition to the planned Tier 1 bond of $300 million, which shareholders have already approved, it said in a bourse statement.

Further details about the rights issue would be published in due course, the statement added.