Oman's Renaissance Services said on Tuesday it will ask shareholders to approve plans for a 40 million rials ($103.9 million) offering of zero coupon convertible bonds.
The approval will be sought at a shareholder meeting on 25 March, the oil services firm said in a filing to the Muscat Securities Market.
Zero coupon convertible bonds are instruments which can be converted into ordinary stock in a company but while maturing at a par value are originally sold at a discount.
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