Decision on Oman Arab Bank’s IPO in six months

February 11, 2014 6:40 am

Oman International Development and Investment Co (Ominvest) has said its new management is conducting a complete analysis of the initial public offering (IPO) project of its subsidiary Oman Arab Bank (OAB), taking into account the interests of all the stakeholders, as well as the recent changes in OAB’s management, Muscat Daily has reported. Omnivest, which owns a 51% stake in Oman Arab Bank, while Jordan-based Arab Bank holds the remaining 49% stake, “shall make its best endeavour to inform the Capital Markets Authority (CMA), within six months hereof, of its full plan regarding the project, and shall disclose on the outcome in due course,” it said.