Bank Muscat concludes $20m private placement with IFC
Bank Muscat on Monday completed a 75 million-riyal (Dh713.06 million) private placement transaction with International Finance Corporation (IFC), a member of the World Bank Group, and IFC Capitalisation Fund.
The private placement amounting to 5.28 per cent shareholding stems from the bank’s overall capital augmentation plan, which will be utilised to further grow the capital base and enhance access to finance for small and medium enterprises and women entrepreneurs.
The ceremony at the bank’s head office marking the IFC private placement was attended by Shaikh Abdullah Salim Al Salmi, executive president of the Capital Market Authority, and Dimitris Tsitsiragos, IFC vice-president for Europe, Central Asia, Middle East and North Africa, in the presence of Shaikh Khalid Bin Mustahail Al Mashani, chairman; Sulaiman Bin Mohammad Al Yahya, vice-chairman, and Abdul Razak Ali Eisa, chief executive of Bank Muscat.
“Bank Muscat is proud to successfully complete the IFC private placement transaction with all the necessary regulatory and other approvals
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