Muscat: The Capital Market Authority on Wednesday said that the authority has approved a plan by Golden Group to issue sukuk to the tune of OMR200 million.
The sukuk will be issued in different tranches and the first issuance will be for OMR50 million by way of a private placement, said a CMA release. The first issuance is with a tenor of five years (and matures in 2022) and at a profit rate of 6.5 per cent.
CMA also approved the prospectus of Bank Dhofar for offering more than 216 million shares by way of rights issue (for the existing shareholders) at an issue price of 185 baisas per share comprising 100 baisas as nominal value, 83 baisas issue allowance and two baises issue expenses. The issue size is OMR40 million. The prospectus will get final approval shortly.
The IPO market in the Sultanate has witnessed considerable activity this year with the market regulator approving more than 12 initial public offerings and debt instruments totaling OMR392.4 million.