Ahlibank’s RO50mn bonds issue oversubscribed

Muscat - 

Ahlibank on Tuesday said its rights issue of RO50mn perpetual bonds successfully closed with an oversubscription.

The bank has received the official approval from the Capital Market Authority (CMA) for the allotment of perpetual bonds aggregating RO50mn to the successful subscribers, Ahlibank said in a filing to the Muscat Securities Market (MSM).

The bonds shall be listed on the MSM shortly, it added.

Earlier in September, the CMA had approved the raising of additional tier 1 capital by Ahlibank through a rights issue of perpetual bonds. The record date for the issue was September 11. The subscription opened on September 26 and closed on October 10.

Ahlibank on Sunday reported a net profit of RO19.8mn for the nine months period ended September 30, 2017. This was 5.7 per cent lower compared with a net profit of RO21mn in the first nine months of 2016.

The bank’s net loans, advances and financing grew 6.2 per cent to RO1.65bn as of September 30, 2017 from RO1.55bn a year ago.

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