banking

Bank Nizwa completes rights issue, nets $181m in capital increase

September 27, 2021

Oman’s leading Islamic bank Nizwa has announced the successful completion of its rights issue which was open for subscription from September 7 until September 16.

Subsequent to the subject matter disclosures, Bank Nizwa announced new 736.953 million ordinary shares at an issue price of baisas 95 per share, thus increasing the bank’s capital by over RO70 million ($181.2 million).

Lauding the overwhelming response from its subscribers and shareholders, the Omani bank said its new issued share capital post-rights issue will be RO220 million of 2.24 billion shares.

Allotments of all subscriptions were approved by the Capital Market Authority. The new share capital is set to be listed on Muscat Stock Exchange tomorrow (September 26), it added.

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