The Suhail Bahwan Group will take a 35 per cent stake in NBO. As a result of the placement NBO will emerge as the largest asset value bank in Oman with an enhanced capital of 70m shares. The deal represents the largest capital market transaction in the history of Oman.
Comments Andrew Rae, Partner of Trowers & Hamlins: "The objective of this share issue is to strengthen the National Bank of Oman's balance sheet and loan coverage capacity and achieve a commercial tie-up that will generate greater business opportunities for both parties."
The National Bank of Oman has offices in three Arab countries - Oman, United Arab Emirates and Egypt.
The Suhail Bahwan Group is one of the Middle East's largest diversified industrial companies employing over 9,000 people across 30 different companies with turnover in excess of $400m. The group is involved in power projects, construction and engineering and has taken a leading role in Oman's privatisation programme.
Browse
related articles
Trowers & Hamlins advises National Bank of Oman on USD138m equity issue
- Oman: Thursday, October 30 - 2003 at 14:23
- PRESS RELEASE
International law firm Trowers & Hamlins represented National Bank of Oman SAOG ('NBO'), the Sultanate's oldest bank, in an Omani Rial (R.O) 53.14m (USD138.16m) placement of 24,195,406 shares at R.O 2.2 (USD5.72) per share to the Suhail Bahwan Group.
Related stories
Also consider reading:
Digg
Facebook
LinkedIn
Twitter
Browse
related articles
Log in to request more information from Trowers & Hamlins
Notes and media contacts
Press enquiries;Andrew Rae
Partner
Trowers & Hamlins Oman
Tel: +968 771 5500
Paul Arvanitopoulos or Nick Mattison
Mattison Public Relations
Tel: 020 7645 3636
Posted by Anne-Birte Stensgaard, Senior News EditorThursday, October 30 - 2003 at 14:23 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Tue Jul 27 2004.
Disclaimer:
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
It looks like you are using a Mac - check out our 
Web Feeds