Bank Dhofar, Oman's third-largest lender by market value, said on Thursday its board had approved a plan to raise RO70 million ($181.8 million) in a rights issue to finance growth.

'The issue price and the number of shares will be determined
once the study and evaluation by the lead issue manager is complete,' the lender said in a statement on the bourse website.

The Shares of Bank Dhofar, up almost 35 per cent this year, were 1.33 per cent higher to 0.914 rials a share at 0643 GMT.-Reuters