The initial public offering of Omani lender Bank Nizwa, the sultanate's first Islamic bank, is oversubscribed by at least 100 percent, a source familiar with the share listing said on Friday.
"The count is still ongoing but so far at least 100 percent of the IPO has been oversubscribed. The final count will be announced next week," the source told Reuters.
Bank Nizwa's one month long IPO ended on May 22. It plans to raise $156 million by selling 40 percent of its capital in an initial public offering on the Muscat Securities Market.
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