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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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16/05/2025
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE
Trade Arabia
16/05/2025
Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.
The
Muscat Daily
16/05/2025
Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.
This stat
Gulf Times
16/05/2025
Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
16/05/2025
In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental
Kuwait Times
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