Muscat: The Commercial Bank PSQC (CB) of Qatar has announced a public offer to acquire an additional 15.2 percent of the issued share capital of National Bank of Oman (NBO), a move that will increase the former’s stake in the Omani lender to 50.1per cent.
The offer opens on June 10, 2021 and closes on July 11, 2021 against an offer price of RO 0.200 per NBO share which represents a (1) 36 percent premium versus the Volume Weighted Average Price (VWAP) since January 1, 2021; (2) 28 percent premium versus the last three months' VWAP; and (3) 18 percent premium versus the closing price of June 2, 2021, the Commercial Bank stated.
“The offer completion will result in the formation of a stronger banking institution that the management of CB envisages should become more competitive, both locally and regionally. Through Offer Completion, CB aims to enhance shareholder value and promote the development of NBO,” said Doha-based lender, which currently holds 34.9 percent of the issued capital of NBO.
Further details at: https://www.u-capital.net/pdf/Projectper cent20Mirqab_Offerper cent20Announcementper cent20-per cent202per cent20Juneper cent202021per cent20(English).pdf
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