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Ominvest unit delays IPO

The banking arm of Oman International Development and Investment (Ominvest), Oman Arab Bank has delayed its initial public offering (IPO) until September, Reuters has reported. The lenders had been cleared to float 25% of its capital on the local bourse, its chief executive said in August. The company was planning to offer 290 million shares in the IPO, with Ominvest offloading 243.6 million shares, or 21% of the company's share capital.