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Oman's Bank Dhofar sets record date for rights issue

Oman-based Bank Dhofar SAOG set a Nov. 29 record date for its rights issue, under which holders of every 100 shares in the lender shall be offered 10.59 rights shares of the bank.

Subscription for the issue will run from Dec. 13 to Dec. 26, while the rights trading period will run from Dec. 10 to Dec. 21.

In October, the bank's board approved an issue price of 185 baisas per share, consisting of a nominal value of 100 baisa, a premium of 83 baisa and issue expenses of 2 baisa, for the rights shares.

As of Nov. 21, US$1 was equivalent to 385 Omani baisa.