CMA clears OMR5m rights issue of National Pharmaceuticals

Muscat: National Pharmaceutical Industries Company plans to raise its capital by OMR5 million by way of a rights issue. The company has received approval from the Capital Market Authority (CMA) for the rights issue and accordingly, 50 million shares will be issued to the existing shareholders at a price of 102 baisas per share.
The board of directors of the company approved a proposal to raise of the company's capital from OMR5 million to OMR10 million.
The CMA approved the rights issue prospectus based on the request of the company's management and in compliance with all the requirements of the issue.