Business | Banking
National Bank of Oman plans share split
Shareholders of National Bank of Oman, the country's second largest lender by market value, approved plans for a share split, a bond sale and stock and cash dividends for 2007, the bank said on Monday.
- Reuters
- Published: 10:11 March 24, 2008
Dubai: Shareholders of National Bank of Oman, the country's second largest lender by market value, approved plans for a share split, a bond sale and stock and cash dividends for 2007, the bank said on Monday.
Each National Bank share will be split into 10 shares with a nominal value of 100 baisas each, the bank said in a statement on the Muscat bourse website. There are 1,000 baisas per Omani rial.
Before the stock split, investors will be given 17.5 free shares for every 100 held and a 17.5 per cent cash dividend for 2007, it said.
The share split and bonus issue will take the bank's issued capital to 1.081 billion shares.
Shareholders also approved the bank's plans to sell 100 million rials ($259.8 million) of bonds.
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