Prime Highlights 

• Sohar International’s OMR149.3 million rights issue was oversubscribed by 1.22 times, with a 95.5% take-up rate among eligible shareholders.  

• The bank’s paid-up capital rose to OMR849,675,744 following the issue of 1,058,759,403 new ordinary shares.  

Key Facts 

• Sohar International Bank is an Omani lender that issued new shares at 141 baisa each, comprising 139 baisa in share price and 2 baisa in issue expenses.  

• The residual pool of unsubscribed shares was oversubscribed by nine times, reflecting strong investor demand beyond existing shareholders.  

Background 

The Sohar International Bank has completed the issuance of the rights issue of OMR 149.3 million (US$ 388.3 million), which had been oversubscribed by 1.22 times. 

The bank issued 1,058,759,403 ordinary shares, attracting total subscriptions worth OMR182,408,592.29. The rights issue was fully subscribed, which the bank said reflected strong confidence among shareholders in its strategic direction, financial strength and long-term growth ambitions. 

Eligible shareholders subscribed to their allotments at a rate of 95.5% while the undersubscribed portion was oversubscribed nine times. 

Chief executive Abdulwahid Mohamed Al Murshidi said the completion of the rights issue marked another important milestone in the bank’s growth journey and reflected shareholders’ continued confidence in its strategy, leadership and long-term vision. He added that the support reinforced the bank’s ability to execute its strategic priorities while creating sustainable value for stakeholders. 

Al Murshidi said the enhanced capital base would strengthen the bank’s financial position, providing greater flexibility to pursue growth opportunities, deepen its market presence, invest in innovation and continue delivering tailored financial solutions across Oman and its international markets. 

The bank said the capital raise would reinforce its resilience and support sustainable business growth, while strengthening its ability to accelerate strategic initiatives, expand its product and service offerings, and capture new opportunities across priority markets. 

Following completion of the rights issue, Sohar International’s paid-up capital increased to OMR849,675,744, divided into 7,676,005,673 ordinary shares. The rights issue was offered at 141 baisa per share, comprising 139 baisa as the share price and 2 baisa towards issue expenses.