Mubasher: The board of directors of Ahli Bank in Oman recommended the issue of perpetual bonds (Additional Tier 1) through a rights issue.
The bonds totalling 50 million will have a par value of OMR 1 per share, and 5 baisas per share as issue expenses, the bank said in a statement to the Muscat Securities Market (MSM) on Wednesday.
The board set 27 April to hold the extraordinary general meeting (EGM) to approve this proposal.
Ahli Bank will put up the remaining bonds, if existing, after the issue of the rights to public subscription, taking the required procedures, and the approval of the Capital Market Authority (CMA).
Late last month, the bank’s shareholders approved the decision to distribute 10 baisas per share as cash dividends for 2016.
The MSM-listed bank last reported a 6.86% increase in profits for 2016 reaching OMR 29.6 million, compared to OMR 27.7 million in 2015.
