Muscat – Sohar International Bank has raised RO149.28mn through a rights issue of ordinary shares that was oversubscribed by 1.22 times, reflecting strong investor demand.

The bank announced on Monday the successful completion of its rights issue of 1,058,759,403 ordinary shares, attracting total subscriptions worth RO182.4mn against the issue size of RO149.28mn.

Following the completion of the rights issue, Sohar International’s paid-up capital has increased to RO849.67mn, divided into 7,676,005,673 ordinary shares. The shares were offered at an issue price of 141 baisa each, comprising 139 baisa as the share price and 2 baisa to cover issue expenses.

Sohar International said the oversubscription reflects the strong confidence of its shareholders in the bank’s strategic direction, financial strength and long-term growth ambitions. With a take-up rate of 95.5% among eligible shareholders, the residual pool of unsubscribed shares was oversubscribed by nine times, demonstrating robust investor demand and reaffirming market confidence in the bank’s strategy and future outlook.

Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International, said, “The successful completion of this rights issue represents another important milestone in Sohar International’s growth journey and reflects the strong confidence our shareholders continue to place in the bank’s strategy, leadership, and long-term vision. Their support reinforces our ability to execute our strategic priorities while creating sustainable value for all stakeholders.”

He further added, “This enhanced capital base further strengthens our financial position, providing greater flexibility to pursue growth opportunities, deepen our market presence, invest in innovation, and continue delivering differentiated financial solutions that meet the evolving needs of our customers across Oman and our international markets.”

The successful capital raise further strengthens Sohar International’s capital base, enhancing the bank’s resilience and providing additional capacity to support sustainable business growth. It also improves the bank’s ability to accelerate strategic initiatives, expand its products and services, and capitalise on new opportunities across its priority markets while continuing to deliver long-term value for customers, shareholders and the wider economy.