Bank Sohar shareholders approve OMR100m bond issue

Muscat: An extraordinary general meeting of Bank Sohar shareholders on Sunday approved a proposal to issue additional tier 1 capital by way of perpetual bonds. The issue size is OMR100 million (OMR70 million and a OMR30 million green shore option) with nominal value of OMR1,000 per bond, said a disclosure statement posted on MSM website.
The shareholders have approved a proposal to entrust the board to take necessary steps for the issues and get necessary approvals from authorities concerned.