Bank Dhofar gains board approval for 45m rial rights issue

Dubai: The board of Bank Dhofar, Oman’s second largest lender by assets, has approved a rights issue worth 45 million rials (Dh430 million or $116.9 million), subject to regulatory assent, it said on Monday.

The rights issue would be in addition to the planned Tier 1 bond of $300 million, which shareholders have already approved, it said in a bourse statement.

Further details about the rights issue would be published in due course, the statement added.