Muscat: Oman Sovereign Sukuk Company, on behalf of the Government of the Sultanate of Oman, announced the launch of the 11th issue of local sovereign Sukuk worth OMR100 million, with an option to increase the size by an amount not exceeding OMR20 million, for a maturity period of 5 years at an annual profit rate of 4.2 percent.
The subscription period for submitting bids will open on Thursday, and close on 10 June. These Sukuk will be issued on the settlement day, 15 June. The profit due on the Sukuk will be paid twice a year, on 15 June and 15 December of each year, until the maturity date of the Sukuk on 15 June 2031.
Subscription to this Sukuk issue is open to all categories of individuals, institutions, and investors from within and outside the Sultanate of Oman of various nationalities.
The Sukuk will be issued through a competitive bidding process, and investors must submit their bids during the subscription period through the Islamic windows of the collecting banks. Subscribing investors can obtain the subscription prospectuses and application forms through the website of the Ministry of Finance or the websites of the collecting banks.
Those wishing to subscribe must obtain an investor number by visiting the website of the Muscat Clearing and Depository Company or through the “Oman Shares” application, at least one day prior to submitting the subscription application to the collecting banks specified in the prospectus.
These Sukuk are Sharia-compliant and tradable (buying and selling) at the prevailing market price through Muscat Stock Exchange. The details and data of the Sukuk allocated to the subscribers in this issue will be registered and documented in the private Sukuk register, which is maintained and managed by the Muscat Clearing and Depository Company.
The Oman Sovereign Sukuk Company emphasises the necessity for the bank account number written in the subscription application to match the one registered with the Muscat Clearing and Depository Company to ensure a smooth subscription process and the receipt of profit and the principal subscription amount on the maturity dates.
