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Dubai Group opts out of Bank Muscat rights sale

Posted on 16 July 2012

Dubai Group, the second-largest shareholder in Bank Muscat, has sold its rights to buy into a share offering by the Omani lender at a significant discount.
Bank Muscat, Oman’s largest lender, offered new shares to existing holders at a 25-per cent discount to raise about $251 million to fund its credit growth and venture into Islamic finance. Dubai Group had the rights to buy an additional 33.387 million shares, valued at about 0.06 rials ($0.16)………………………………………..Full Article: Source

 
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