Ominvest to Issue USD 135.1 Million Worth of Perpetual Sukuk

The shareholders of Oman International Development and Investment Company (Ominvest), an Oman-based investment holding company, have approved the issuance of Unsecured Subordinated Perpetual Sukuk Al Mudarabah Certificates (Sukuk) worth OMR 52 million (USD 135.1 million), at the company’s Extraordinary General Meeting, held on the 17th of November 2021.

Why it Matters?

The Sukuk will be issued by Ominvest and exchanged for treasury shares held by Jabreen International Development Company (Jabreen), which is a fully owned subsidiary of Ominvest. Following the completion of the exchange transaction, the treasury shares will be cancelled by Ominvest. According to Abdulaziz Al Balushi, Group Chief Executive Officer at Ominvest, the issuance will al...