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FINANCIAL NEWS
Oman leasing firms raise capital to USD 64.72mn
20 Mar 2016
(MENAFN) A huge leasing and hire purchase firms in Oman have reached the minimum capital need at USD 64.72mn, well ahead of its deadline by the end of this year.
Moreover, many other firms have structured their bond conversion plans to touch the paid-up capital at USD 64.72mn.
Accordingly, the firm’s paid-up capital is USD 68.14mn, which was raised by way of issuing bonus shares from retained earnings and rights issue.
In addition, they had a USD 19.41mn right issue in 2012, while the company’s capital base would cross the number of USD 64.72mn by the end of 2016.
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