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Oman’s Bank Sohar Says $104m Rights Issue Oversubscribed

Oman’s Bank Sohar Says $104m Rights Issue Oversubscribed

In total, shares worth OMR53.28 million were bid for under the capital increase, which saw 228.8 million new shares sold to investors.

Oman’s Bank Sohar, which is in talks about a possible merger with larger rival Bank Dhofar, said on Thursday its OMR40.04 million ($104.1 million) rights issue had been oversubscribed.

In total, shares worth OMR53.28 million were bid for under the capital increase, which saw 228.8 million new shares sold to investors, according to a bourse filing.

Bank Sohar offered the shares for subscription, priced at OMR0.175 each, between April 15 and April 29.

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