Bank Nizwa’s RO60m IPO likely in April - Times of Oman

Oman’s first Islamic bank’s (Bank Nizwa) RO60 million initial public offering (IPO) may be floated in April, even as the bank authorities are planning to unveil their programmes for the first time to the media on March 10.

Although high-ranking officials involved in setting up the bank are tight-lipped on the plans, sources at the bank’s issue manager said that Bank Nizwa will have a paid-up capital of RO150 million.

The bank’s 40 per cent capital will be offered to the public. The issue, which will be offered at a fixed price and managed by Oman Arab Bank, will open for subscription for one month.

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