Bank Muscat set to close $150m private placement

Sun, Feb 17 - 2013

Omani lender Bank Muscat is expected to close its private placement of shares with an international institution by the end of this month, Muscat Daily has reported. “The transaction is expected to be finalised by the end of February 2013, whereby full details of the transaction will be disclosed to the market after obtaining all necessary approvals,” the bank said. In January 2012, the bank’s board of directors gave their approval to raise additional capital amounting to OR57.75m ($150m) through private placement of shares with a reputable international institution.

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