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FinancialNews


  • 24-05-17

    National Finance to raise OMR46mn to fund Oman Orix

    (MENAFN) National Finance Co. aims to raise OMR46mn in order to raise fund for its cash buyout of the Oman Orix Leasing Company.

    Moreover, the Board of Directors has approved OMR27.6mn rights issue and another OMR18.2mn perpetual bond issue as private placement.

    In addition, National Finance's proposed cash provide is equivalent to 1.2 multiple of the book value of Oman Orix at the end of March this year.

    Oman Orix has a net worth or whole equity of OMR7.8mn, whereas its paid-up capital was OMR26.11mn at the end of March of 2016.

    MENAFN2405201700450000ID1095507572

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