Muscat—Dentons advised BankDhofar on the issuance of 200 million rights issue shares at an issue price of 200 baiza per share. The rights issue was fully subscribed.

The transaction is an important milestone for BankDhofar with regard to its compliance obligations with the Basel III guidelines.

Commenting on the transaction, Dentons' Co-Managing Partner and Head of Corporate in Muscat, Nick Simpson, said: "BankDhofar is one of the fastest growing banks in the Sultanate. Having advised them for a number of years we are pleased to have been involved in this rights issue, supporting the Bank's future growth prospects and its compliance with international capital adequacy standards"

Simpson led the transaction with assistance from partner Dali Al Habboub, senior associate Darshi Sanganee and associate Harry Singh, all based in Muscat.

Dentons leading Middle East corporate and commercial team has an in-depth understanding of the nuances of each local market, stemming from more than 35 years in the Sultanate and 50 years of experience advising on major transactions across the wider region. The team advises on a full range of corporate matters including mergers and acquisitions, joint ventures, group reorganisations and equity capital markets.