BankDhofar rights issue to open on October 5

Muscat: BankDhofar on Wednesday said that its rights issue subscription will open between October 5 and 19.
Shareholders of BankDhofar, who have 1,000 shares of the bank, will be entitled for 117 rights shares duly rounded down to the nearest number, the bank said in a disclosure statement posted on MSM website.
The record date for the rights issue is September 27. Also, the rights trading period is fixed between October 2 and 16.
Bank Dhofar in July said that it is raising OMR40 million at an issue price of 200 baisas per share, which include a nominal value of 100 baisas, a premium of 98 baisas and an issue expense of 2 baisas.
The bank will be issuing 200 million rights shares to its shareholders to increase its tier 1 capital in order to improve the capital adequacy ratio, strengthen the balance sheet and to support the future growth of the bank’s business.