Bank Nizwa gets approval for RO 75m rights issue

Bank Nizwa, Oman’s first full-fledged Islamic lender, has announced that it has secured regulatory approvals from the Central Bank of Oman (CBO) and the Capital Market Authority (CMA) for its Rights Issue of 789.473 million shares for 95 baizes per share, aggregating to RO 75 million.

In a filing to the CMA, Khalid al Kayed, CEO, said the Board of Directors had resolved that the Record Date of the Rights Issue is set for August 29, 2021.

“Subscription for the Rights Issue is open to shareholders whose names appear in the Bank’s shareholder register with the MCDC as on the Record Date. Persons who purchase the rights on the MSX within the Rights Trading Period are also eligible to subscribe for the Offer Shares before the Subscription Closing Date,” he said.

Rights trading opens on September 5, 2021, and closes on September 12, while Subscription opens on September 7 and closes on September 16, 2021. Listing and allotment are set for September 26, 2021

Courtesy: Oman Observer