Bank Muscat, Oman's largest lender by market value, saw its 96.7 million rials ($251.2 million) rights issue 127.5 percent covered by investors, the bank said in a bourse filing on Monday.
The lender received bids worth 123.3 million rials from 1,675 investors for the share sale, which took place between July 9-23 and was used to raise capital to fund credit growth and its upcoming venture into Islamic finance.
The issue consisted of 226.5 million shares offered at 0.427 rials per share, around a 25-percent discount to the share price when the deal was announced at the end of June.
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