Bank Muscat, Oman’s largest lender by market value, saw its OMR96.7 million ($251.2 million) rights issue 127.5 per cent covered by investors, the bank said in a bourse filing on Monday. The capital raised will be used to fund credit growth and the lender’s upcoming venture into Islamic finance.
The lender received bids worth OMR123.3 million from 1,675 investors for the share sale, which took place between July 9-23 and was used to raise capital to fund credit growth and its upcoming venture into Islamic finance………………………………………..Full Article: Source