Home About Kuna Advertise Contact Us Kuna's Bureaus Services Term Of Use
Register Login
facebook Twitter Youtube rss
Kuwait Social Media Summit kicks off      Kuwaiti wins Arab sports body post      Fatah, Hamas reach compromise on forming nat'l unity gov't      UNSC welcomes progress in eliminating Syria's CW, mulls investigating chlorine gas attacks near Hama      Kuwait's consumer price rises by 2.96 percent in March
  Economics
Oman''s first Islamic bank announces USD 156 mln IPO
23/04/2012   |   10:04 AM | Gulf News
تصغير الخطالشكل الأساسيتكبير الخط
MUSCAT, April 23 (KUNA) -- Oman's first Islamic bank, Bank Nizwa, announced an Initial Public Offering (IPO) worth about USD 156 million for 600 million shares which come to 40 percent of its paid capital, on Monday.
"The bank is offering 600 million shares, with a par value of 102 baisas each, including two baisas for meeting issue expenses," an earlier bank statement said.
The IPO guidelines state individuals can acquire 1,000-100,000 shares, while the remainder is up for acquisition by companies at a maximum of 10 percent each.
Eleven local banks and companies have pledge to cover the issue, if need arise.
The bank is expected to start operation in the third quarter this year, according to plans. The commercial patent of the bank had already been launched in the first quarter of the year.
Bank Nizwa is to offer a comprehensive array of commercial banking services virtue of the final license to be issued by the central bank, and within the lines of banking law and the Islamic banks code expected to be announced soon.
Reports also indicate the bank is slated for listing at the Muscat stock exchange in June.(end) ahr.wsa KUNA 231004 Apr 12NNNN
 Print
  Email
 Save
Share
Share


Most Read Most Emailed  
1.   Russia must take action for de-escalation in Ukraine -- Kerry
2.   Specialists convene in May on info-security, social media
3.   Turkey says might be forced to export Iraqi oil
4.   Ban strongly condemns attacks on civilians, UN peacekeepers in South Sudan
5.   Lebanese army arrests Syrian rebels
6.   GCC youth, sports ministers meet in Kuwait Sunday
    Photo Gallery

UN Wise-men Committee Member Sheikh Mohammad Sabah Al-Salem Al-Sabah speaking at the opening session of the second GCC National Security and Regional Security Conference

Item displayed at the "The Hajj: Pilgrimage to Mecca" exhibition at the Arab World Institute (IMA) in Paris

Item displayed at the "The Hajj: Pilgrimage to Mecca" exhibition at the Arab World Institute (IMA) in Paris

Item displayed at the "The Hajj: Pilgrimage to Mecca" exhibition at the Arab World Institute (IMA) in Paris

His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah with Minister of Housing Yasser Hassan Abul

Qadsia beats rival Kuwait in KBA Cup

head of programs and activities at KEPS Jinan Bahzad

Minister of Information Sheikh Salman Sabah Al-Salem Al-Sabah during the meeting

His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah received outgoing US Ambassador to Kuwait Mathew Tueller

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah receives Sheikha Intisar Salem Al-Ali Al-Sabah

General Manager Ahmad Al-Mudhef

Secretary-General of the National Council for Culture, Arts and Letters (NCCAL) Ali Al-Yuha

Kuwait Stock Exchange (KSE)

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah

UN Secretary General Ban Ki-moon

Director of the Meteorological Department Mohammad Karam
Publications

WEATHER
PRAYER
CURRENCIES
KUWAIT AIRPORT
    Calendar
About KUNA KUNA SERVICES USEFUL LINKS KUNA ARCHIVE KUNA PUBLICATIONS
Home
About Kuna
Advertise
Contact Us
Kuna's Bureaus
Services
Term Of Use
Read The Whole Newscast
Pictures (during the week)
FTP Service
KUNA training center
KUNA Reader
SMS Services
الكويت فى ذاكرة الأيام
Job Application
Careers
Arab News Agencies
International News Agencies
Governmental Institutes
Banks in Kuwait
News Paper
Local Companies
other useful links
Prayer Times
News Archive
Other News Services
Today In Kuwait's History
Events
Training Sessions
Videos
All KUNA right are reserved © 2012. This site is designed and published by IDS