Oman’s Bank Dhofar okays rights issue

Oman’s

Bank Dhofar, the second-largest lender in the sultanate by assets, said on yesterday its board of directors had approved a rights issue to raise up to 40 million riyals (Dh380.29 million $103.9 million).

Shares will be priced at 0.2 rial each, it said. That’s below the 0.237 rial price at which the stock closed on Wednesday.

Bank Dhofar, which earlier this month posted a 16.2 per cent rise in secondquarter net profit, has been in talks with Bank Sohar over a potential merger since 2013. (Reuters)