Omantel sukuk issuance opens for subscription
The subscription period for Oman Telecommunications Co's (Omantel) debut sukuk issuance will remain open until January 26, the company said in a statement. Subscriptions started on January 11.
The 50 million rial sukuk is sold on private palcement to Omani and international investors and will be offered in the local currency and U.S. dollars. The minimum subscription amount is 100,000 Omani rials/$260,000.
The sukuk carries a tenor of five years. Its profit rate will be set through a uniform price auction and finalised upon closing of the subscription period.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
