22 Dec 2011 07:00
BANKMUSCAT PROPOSED RIGHTS ISSUE
The Board of Directors of the Bank at its meeting held on December 21, 2011, approved a Rights Issue of RO 100 million subject to necessary regulatory approval. The issue will be at a 20% discount to the market price and is expected to be during the second quarter of 2012. Details of the issue including determination of market price and specific time line will be disclosed at a later stage after obtaining regulatory approval.