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- Lebanon receives preliminary approval to increase World Bank loan to $400m
- China Exempts Some Goods from US Tariffs to Limit trade War Pain
- Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as 9th year milestone marked
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- UAE jobs: Etihad Airways to hold career fair for Emiratis on May 22
- Adnoc Distribution to operate 500 high-power EV chargers by 2028
01/06/2015 18:26 AST
Oman International Development and Investment Company (Ominvest) and Oman National Investment Corporation Holding on Monday said their respective shareholders had approved the proposed merger of the two companies.
Under the plan, ONIC Holding said its shareholders would receive 1.052 Ominvest shares for every share they currently held, according to a bourse filing.
Ominvest said in a separate statement its shareholders had backed increasing its authorised capital to 90 million rials ($233.8 million) from RO50 million and its issued capital to RO55.28 million from RO37.04 million, to help facilitate the merger.
The new shares will be offered to ONIC Holding shareholders, the statement added.
Ominvest said in July it had written to ONIC Holding about forming a strategic arrangement between the two firms. On April 20, the boards of the two companies approved the proposed merger between the pair and said it would put forward the subject to shareholders.
Reuters
25/12/2017
The Muscat Securities Market (MSM) on Wednesday organised an investors meet and board discussion session for Oman International Development and Investment Co (Ominvest).
The event was att
Muscat Daily
05/10/2017
Capital Intelligence Ratings (CI Ratings or CI), the international credit rating agency, today announced that it has assigned initial corporate ratings of 'BBB' Long-Term and 'A3' Short-Term to Oman
Press Release
10/08/2016
Oman International Development and Investment Company (Ominvest) on Tuesday said that the company and its strategic partners are in the process of finalising regulatory approval for acquiring Oman Ar
Times of Oman
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26/04/2025
Adnoc Distribution, a leading fuel distributor and convenience store operator, has unveiled plans for a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging p
Trade Arabia
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
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