Oman's first retail sukuk fully subscribed

Published 28 Nov,2020 via Muscat Daily - The Capital Market Authority (CMA) announced that the sultanate’s first Omani rial sovereign sukuk issuance recently offered to the retail investors has been fully subscribed.

The CMA announced the listing of Series 5 Oman Sovereign Sukuk comprising 25mn trust certificates valued at RO25mn and due in 2022. In a statement to Oman News Agency, the CMA said that the offer was fully subscribed by individual investors.

The public offer presented a unique opportunity for retail investors to participate in the government’s sukuk programme with a profit of 4.75 per cent per year and a limited maturity period of two years, at profit distribution rate every six months (May and November) until the maturity date of the sukuk on November 24, 2022. The minimum subscription amount was RO100.

The sukuk issuance has now been listed on the bonds and sukuk market of the Muscat Securities Market until its maturity as specified in the prospectus. The sukuk will be available for trading on the MSM.

The Omani RialSukuk Issuance Program forms an integral part of the strategy of the government to enhance the depth and scale of the overall capital market in Oman, enabling it to play a more vital role in the economic development of the country, and further developing Oman’s secondary Islamic capital market.

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