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Oman's Bank Dhofar mulls options for up to $300 mln capital raising
January 22, 2015 / 9:58 AM / 3 years ago

Oman's Bank Dhofar mulls options for up to $300 mln capital raising

DUBAI, Jan 22 (Reuters) - Bank Dhofar, Oman’s third-largest lender by assets, plans to raise its capital by up to $300 million at the earliest opportunity, with a Tier 1 capital-boosting bond its preferred method, the bank said on Thursday.

The plans were subject to approval from shareholders, the central bank and other regulatory approvals, it said in a statement.

As the Tier 1 bond was likely to take more time to arrange, the bank said it was also considering other options to raise its capital including issuing non-voting or preference shares, convertible bonds, or a rights issue, it said. (Reporting by Tom Arnold and Matt Smith; Editing by David French)

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