VOL. XLI

No. 21

25-May-1998

OMAN

Bank IPO On The MSM

Oman's Bank Dhofar al-Omani al-Fransi on 20 May launched a 12.8mn share initial publicoffering (IPO) in the local Muscat Securities Market (MSM) with the aim of raisingOR32.2mn ($84mn). The subscription period, during which 40% of the bank's issued capitalwill be floated, will run to 18 June and shares will be open to local and foreigninvestors - although foreign holding is restricted to 49%. The shares are being offered atOR2.52 ($6.50) each...