CMA urges stakeholders in acquisition process to maintain transparency

Business Wednesday 21/June/2023 17:49 PM
By: Times News Service
CMA urges stakeholders in acquisition process to maintain transparency

Muscat: Urging the parties in the Ahli Bank acquisition process to exercise the highest standards of integrity and transparency and provide fair treatment for all shareholders the Capital Market Authority closely monitored the disclosures published on the Muscat Stock Exchange (MSX) website by BankDhofar SAOG and Ominivest LLC on the offers for the acquisition of the shares of Ahli Bank listed on the MSX as well as the enquiries that reached the CMA, and on social medial platforms from shareholders and stakeholders about the details of the takeover and acquisition offer.

CMA would like to confirm to all shareholders that this matter is regulated by the provisions of the Takeover and Acquisition Regulations issued by CMA’s Decision No 2/2019 dated May 9, 2019, and all the parties taking part in the takeover and acquisition process must comply with the Regulation specifically the provisions of Article 5 of the Takeover and Acquisition Regulation in observing the highest standards of integrity, transparency and providing fair treatment to all shareholders and ensure not provide information to shareholders on a selective basis in the takeover offer and guarantee not to mislead the consumers in the market.

CMA also emphasised the investor relations sections in the entities participating in the process to provide communication channels with the public following the directives for interaction between the public joint stock companies, analysts, investors and reporters issued vide CMA’s Decision No. 109/2022.