Oman investors could not get enough of Bank Nizwa when the country's first Islamic lender listed its shares in June.
The initial public offering was oversubscribed 11 times as the novelty of a new listing appealed to investors on the smallest of Arabian Gulf exchanges. The share sale also sparked hopes of a rebound in sentiment on the Muscat Securities Market.
Now the fledgling bank is being watched closely by investors as the country reverses its policy on Islamic finance and starts to court new Sharia-compliant equity and debt issues for the first time. It also wants to encourage conventional debt listings.
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