Sohar International Bank has successfully completed a rights issue that raised gross proceeds of RO 149.3 million, the bank announced Monday. The offering was fully subscribed, with the bank issuing 1,058,759,403 shares priced at 141 baisas each—comprising a share price of 139 baisas plus 2 baisas in issue expenses per share.

Following the rights issue, Sohar International’s paid-up capital increased to RO 849,675,744, divided into 7,676,005,673 ordinary shares. The bank noted that the full subscription of the offering reflects strong support from its shareholders and investors and will further strengthen its capital base to support the achievement of its strategic objectives.

The completion of the rights issue came a day after the bank secured regulatory approval from the Financial Services Authority, under Decision No FSAP-2026/875, for the allotment of shares. In an earlier disclosure on August 2, Sohar International reported receiving a high volume of subscription applications, which led to a delay in the allotment and listing process.

The bank is in the process of finalizing the necessary steps for the listing of the new shares on the Muscat Stock Exchange and updating the records with Muscat Clearing and Depository SAOC, according to the disclosure. The announcement was signed by Abdulwahid bin Mohamed al Murshidi, Sohar International’s Chief Executive Officer.