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Omantel Gets Shareholder Assent For $130m Sukuk Issue

Omantel Gets Shareholder Assent For $130m Sukuk Issue

Omantel did not give any timing for the issue in the bourse filing.

Oman Telecommunications (Omantel) said on Monday its shareholders had approved the issuance of Islamic bonds, or sukuk, worth OMR50 million ($129.9 million).

Omantel did not give any timing for the issue in the bourse filing, which followed the operator’s annual meeting on Sunday.

The former monopoly, which competes with Ooredoo Oman, said earlier this month it would seek shareholder approval for the offering, which would be only the second sukuk from a corporate in the sultanate.

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