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FINANCIAL NEWS
Muscat Finance to raise USD 12.94mn from bond issue
16 Jun 2016
(MENAFN) Muscat Finance plans to raise a USD 12.94mn by way of a bond issue on private placement basis.
Furthermore, the firm aims to convene an additional ordinary general meeting to seek approval for the unsecured subordinate bond issue.
The company currently has achieved a net profit of USD 3.13mn for the first quarter of this year, against USD 3.26mn in 2015.
In addition, the firm increased the debtors’ portfolio by 13 percent to USD 407.12mn by end-March 2016.
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