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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

CMA approves Golden Group’s RO 200 million Sukuk Issuance

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BUSINESS REPORTER -


MUSCAT, NOV 22 -


The Capital Market Authority (CMA) has announced the approval of the prospectus of the Sukuk Programme (Wakalah) of Golden Sukuk Company LLC to finance the undertakings of Golden Group Holding LLC for the issuance of sukuk at RO 200 million.


The subscription, planned in phases, will open with an initial issuance offering of 50 million Sukuk at RO 50 million by way of private placement. The prospectus states the term of the first series Sukuk is five years with a maturity in 2022 at a profit rate of 6.5 per cent for each Sukuk.


The Authority has also approved the prospectus for the capital increase of Bank Dhofar SAOG by offering 216 million shares by way of a rights issue (for the existing shareholders) at an issue price of 185 baisas per share comprising 100 baisas as nominal value, 83 baisas issue share premium and two baisas as issue expenses. More prospectuses are under considerations and will be finalised shortly, the Authority added.


Significantly, the IPO market in the Sultanate has witnessed considerable activity in 2017, with 12 approval of prospectus of a total value of RO 392.4 million in 2017.


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