Oman Arab Bank, the banking arm of Oman International Development and Investment Co (Ominvest), has delayed its initial public offering (IPO) until September, according to a report published by the Oman News
Agency.
The bank sent a letter to the Capital Markets Authority informing the regulator of its decision to postpone the offering on the Muscat bourse, the report on the state-run news service said, although no reason for the move was cited.
Shares in Ominvest, which was planning to offload a significant portion of its stake in the IPO, fell 5.6 percent on
the Muscat Securities Market on Sunday.
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