Private Placement of Shares

BankMuscat to raise additional capital through private placement of shares

The Board of Directors of BankMuscat (SAOG) has given an approval to raise additional capital amounting to RO 57.75 million (USD 150 million) through private placement of shares with a reputable international institution subject to necessary corporate and regulatory approvals and approval from the shareholders of the Bank. This transaction is part of the Bank's capital augmentation plan in order to strengthen the capital adequacy ratio to meet future organic growth and planned business expansion. The issue price will be determined in accordance with the private placement guidelines of the Capital Market Authority.