Bank Nizwa Successfully Completes an OMR 70 Million Rights Issue

Oman-based Bank Nizwa’s rights issue for OMR 70 million was stated as being successfully completed on the 25th of September 2021.

Why it Matters?

The rights issue of 736.953 million new ordinary shares at OMR 95 Bit-Z (bz) per share was offered to expand the bank’s capital to finance the next level of planned growth and increase shareholder returns. The new share capital was to be listed on the Muscat Stock Exchange (MSX) on the 26th of September 2021 post completion of the procedures relating to updating and listing of the new shares at the Muscat Clearing and Depository Company and the MSX.

Details

Post rights issue, the issued share capital of the bank will comprise of 2,236,953,032 shares amounting to...