Home Industry Finance Commercial Bank of Qatar withdraws offer to raise stake in National Bank of Oman The Qatari lender last month had offered $128m to raise its holding to 50.1 per cent from 34.9 per cent by Bloomberg July 11, 2021 Commercial Bank of Qatar abandoned a plan to build a controlling stake in National Bank of Oman after investors pushed back against what would have been a rare cross-border tie-up in the Gulf. Qatar’s fourth-biggest lender withdrew an offer to raise its stake in the Omani bank after shareholder acceptance fell short of the 15.2 per cent minimum threshold, according to a statement. Investors representing 7.74 per cent of shares of accepted the offer. Commercial Bank of Qatar last month had offered QAR49.43m ($128m) to raise its holding to 50.1 per cent from 34.9 per cent. The proposal to acquire 247 million shares represented a 18 per cent premium to NBO’s closing price of June 2. NBO’s shares closed 1.5 per cent in Muscat on Sunday before Commercial Bank of Qatar announced its plan. Tags Commercial Bank of Qatar finance National Bank of Oman Oman Qatar 0 Comments You might also like Saudi Arabia plans to issue $9.6bn in sukuk after buyback EFG Holding’s Q2 2023 revenue jumps 51% to EGP3.1bn Dubai’s VARA, DET to establish market assurance standards for virtual assets Abesq Doha Hotel and Residences opens in Qatar