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On 16 August 2021, BankMuscat (S.A.O.G) acquired an additional 1.38% shareholding in SICO BSC (c) via a secondary market purchase, following regulatory approvals. This transaction increased BankMuscat's total shareholding in SICO BSC (c) from 9% to 10.38%, with SICO BSC (c)'s net worth recorded as BHD 66,965,000 as of June 30, 2021.
| Date | 16 Aug 2021 |
| Time | 07:00:09 |
| Category | Acquisitions and alliances |
| ID | 7201I |
Date: 16 August 2021
Subject: Acquisition of an additional stake in SICO BSC (c)
We refer to our disclosure dated 20 December 2020 regarding 72.71% stake sale in Muscat Capital Company (cjsc), based in Kingdom of Saudi Arabia (KSA)to SICO BSC (c), a Bahrain based investment bank and acquisition of 9% shareholding in SICO BSC (c) by bank muscat. We wish to disclose that bank muscat has obtained necessary regulatory approvals to acquire a further 1.38% shareholding in SICO BSC (c) via a secondary market purchase.
Subsequent to this transaction bank muscat's shareholding in SICO BSC (c) will be 10.38%. Net worth of SICO BSC (c) as at June 30, 2021 was BHD 66,965,000.
Waleed K. Al Hashar
Chief Executive Officer