Oman’s Sohar International Bank has completed its rights issue, raising OR132.1m (US$343m). 

Investors subscribed for 1.04bn shares at OR0.127 each, representing an 18.6% capital increase.

Based on pre-rights issue filings the Oman government was the largest shareholder with a 13.8% stake held via Royal Court Affairs and 5.4% via Oman Investment Authority.

Sohar ran the offer itself.

Shares in the bank closed down 0.7% on Tuesday at OR0.134, though well above issue. Shares are up 41% this year.

Source: IFR