The company said that it would float one million shares at a price of RO1.020 per share on 8 January 2013 and the issue subscription closes on 22 January.

According to Times of Oman, the record date of the right issue is on 31 December 2012 and trading in rights entitlement will end on 15 January.

Allotment and listing of new shares will be on 30 January 2013. The issue manager of the rights offer is Gulf Baader Capital Markets and BankDhofar will act as the collecting bank.

Dhofar Poultry earlier said its revenue for the first nine months of 2012 was RO2.81 million compare to RO2.40 million for the same period last year 2011, with a growth of 17 per cent.

This growth is mainly due to demand growth and increase in red meat price.