02/11/2026 04:29 AST
Energy Oman (legally Energy Development Oman SAOC) on Sunday announced the issuance of RO50mn in Omani Riyal-denominated sukuk, offering investors a fixed annual profit rate of 5% over a five-year period.
The initial issue size of the Shari'a-compliant Sukuk (Series 2) is RO50mn, with an option to raise an additional RO25mn through a greenshoe option. The cash flows from the sukuk are supported by Energy Oman's energy assets in Oman, the company said in a statement.
The sukuk will carry a fixed profit rate of 5% per annum, payable quarterly, and will have a tenor of five years. Each certificate has a nominal value of RO1.
The subscription process will take place in two categories. Category I investors can subscribe from November 4 to 12 through a competitive bidding process, using physical application forms and the Yield Reference Table.
Following the closure of the first subscription period, the cut-off yield and fixed price for Category II investors will be announced on or around November 16. Subscription for this category will open on November 18 and close on November 30 through the e-IPO channels of the collecting banks.
The minimum subscription is 1,000 certificates for Category I investors and 100 certificates for Category II investors. If the greenshoe option is exercised, Category II investors will be prioritised in the allocation of additional certificates. All applicants must have an investor account with Muscat Clearing and Depository.
The sukuk is structured on the Islamic financing principles of Ijarah (leasing) and Wakala (agency). Its structure has been approved by the Shari'a Supervisory Board of Muzn Islamic Banking, National Bank of Oman.
National Bank of Oman and Bank Nizwa are the joint issue managers, while Trowers & Hamlins is the legal adviser. Oman Investment Bank has been appointed as liquidity provider to facilitate market-making and liquidity provision.
The collecting banks are Ahli Bank, Ahli Islamic Bank, BankDhofar, Dhofar Islamic, Bank Nizwa, National Bank of Oman, Muzn Islamic Banking, Oman Arab Bank, Sohar International and Sohar Islamic.
Mazin Al Lamki, CEO of Energy Oman said, "Oman's energy assets are central to the national economy. With this issuance, we invite investors across the sultanate, both institutions and individuals, to participate in the returns supported by those assets and to contribute to the growth of Oman's energy sector. We encourage everyone to read the prospectus and consider whether the investment suits their needs."
Following allocation and settlement, the sukuk is scheduled to be listed on the Muscat Stock Exchange on or around December 10, 2026.
Energy Oman's mandate is to maximise the commercial potential of Block 6, in which it holds a 60% stake in the oil concession and full ownership of the gas concession. The company also aims to support Oman's energy transition by balancing its reliance on traditional hydrocarbons with the development of renewable energy sources, including solar and wind power.
Muscat Daily
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