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01/06/2015 18:26 AST
Oman International Development and Investment Company (Ominvest) and Oman National Investment Corporation Holding on Monday said their respective shareholders had approved the proposed merger of the two companies.
Under the plan, ONIC Holding said its shareholders would receive 1.052 Ominvest shares for every share they currently held, according to a bourse filing.
Ominvest said in a separate statement its shareholders had backed increasing its authorised capital to 90 million rials ($233.8 million) from RO50 million and its issued capital to RO55.28 million from RO37.04 million, to help facilitate the merger.
The new shares will be offered to ONIC Holding shareholders, the statement added.
Ominvest said in July it had written to ONIC Holding about forming a strategic arrangement between the two firms. On April 20, the boards of the two companies approved the proposed merger between the pair and said it would put forward the subject to shareholders.
Reuters
25/12/2017
The Muscat Securities Market (MSM) on Wednesday organised an investors meet and board discussion session for Oman International Development and Investment Co (Ominvest).
The event was att
Muscat Daily
05/10/2017
Capital Intelligence Ratings (CI Ratings or CI), the international credit rating agency, today announced that it has assigned initial corporate ratings of 'BBB' Long-Term and 'A3' Short-Term to Oman
Press Release
10/08/2016
Oman International Development and Investment Company (Ominvest) on Tuesday said that the company and its strategic partners are in the process of finalising regulatory approval for acquiring Oman Ar
Times of Oman
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18/04/2025
Batelco, a part of Bahrain's leading digital solutions provider Beyon Group, has partnered with Nokia, a global leader in network technologies, up to deploy the kingdom's first private 5G network for
Trade Arabia
18/04/2025
As part of its ongoing efforts to create an ideal work environment that reflects its deep commitment to employee wellbeing and work-life balance, Gulf Bank has announced a reduction in daily working
Kuwait Times
18/04/2025
Zain Fintech, the financial services arm of Zain Group, a leading provider of innovative technologies and digital lifestyle communications operating in eight markets across the Middle East and Africa
Kuwait Times
17/04/2025
Bullish on Qatar's macroeconomic prospects, Al Mahhar Holding is exploring options on expanding its manufacturing base for the energy sector over the medium term and aims to diversify into renewables
The Peninsula
17/04/2025
Abu Dhabi-based global entities ADQ, IHC and Modon Holding have entered into a joint venture to form a dedicated infrastructure platform - Gridora - that will actively drive infrastructure developmen
Trade Arabia
Financial Information Co.
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