BankMuscat, the flagship financial institution in the Sultanate, is all set to raise RO 96.7 million from a rights issue aimed at enhancing Tier 1 capital. The bank is offering 226.5 million shares at 0.427 baisa per share comprising a nominal value of 100 baisa, premium of 325 baisa and issue expense of 2 baisa per share.
The rights issue will be open from July 9 to 23, 2012 with the record date being July 2. Each existing shareholder as on the record date is entitled to subscribe to 1 new share for every 8 shares held by him/her………………………………………..Full Article: Source