CMA approves Golden Group’s Sukuk Issuance at RO 200 Million and Bank Dhofar Capital Increase  at RO 40 Million

The Capital Market Authority has announced  the approval of the prospectus of Sukuk Programme (Wakalah) of Golden Sukuk Company LLC to financial the undertakings of Golden Group Holding LLC for the issuance of   Sukuk at RO 200 million. The subscription will be on phases, the first issuance will be the 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  5 years with a maturity in 2022 at  a profit rate of 6.5% for each Sukuk.

CMA also approved the prospectus of  capital increase of Bank Dhofar SAOG by offering shares at 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 share premium and two Baises issue expenses. More prospectuses are under considerations and will be finalized shortly.

It is noteworthy that the IPO market in the Sultanate has witnessed considerable activity in 2017, with 12 approval of prospectus at RO 392.4 million in 2017.