Oman International Development and Investment Company (Ominvest) is looking at divesting a part of its stake in Oman Arab Bank (OAB) through a private placement, in addition to its plans to divest 21 per cent holding in the bank through an initial public offering (IPO).
Bahrain-based Arab Bank, the second partner of OAB, will divest four per cent stake in the bank in favour of investing public, taking the total divestment via IPO route to 25 per cent.
However, it is not clear what percentage of Ominvest's holding will be diluted by way of the proposed private placement.
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