• Oman

    • Ominvest withdraws the offer to Acquire 100% of the Issued Share Capital of Ahli Bank

    By on July 27, 2023
    Ominvest
    Ominvest

    Muscat: Ominvest withdraws the offer to Acquire 100% of the Issued Share Capital of Ahli Bank

    In a disclosure to Muscat Stock Exchange the company said: “Further to the disclosure dated the 18″ of June 2023 regarding the Public Announcement from Oman International Development and Investment Co. SAOG (“Ominvest’) to lead a consortium – (the “Consortium”) which will make an offer to acquire 100% of the issued share capital of Ahli Bank SAOG (“Ahli Bank) (the “Offer’), and subsequent to the disclosure made by Ahli Bank dated 25″ of July regarding its Rights Issue of RO 50 million, the Consortium has decided to withdraw the Offer.

    This decision was made by the Consortium due to the following:

    The recent development at Ahli Bank to increase its share capital through its Rights Issue

    The Central Bank of Oman was not in a position to grant exceptions to the Consortium for the Offer under Article (57) of the Banking Law 114/2000 and the provisions of Banking Regulation No. 40/96.”

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