Energy Development Oman (Energy Oman) has opened subscriptions for Category I of its second Omani rial (OMR) Sukuk issuance, offering institutional investors a fixed annual profit rate of 5 per cent over a five-year tenor.

Subscriptions will remain open until November 12, 2026, with non-individual investors required to submit physical application forms and yield tables through any of the designated collecting banks.

Applicants must also hold an investor account with the Muscat Clearing and Depository (MCD).

The initial issuance is valued at OMR50 million ($130 million), with an option to increase the size by a further OMR 25 million through a greenshoe option.

Profit payments will be made quarterly.

The Sukuk is structured in accordance with Islamic financing principles of Ijarah (leasing) and Wakala (agency), and has received approval from the Sharia Supervisory Board of Muzn Islamic Banking, National Bank of Oman.

Sultan Al Mamari, chief financial officer of Energy Oman, said the issuance offers institutional investors an attractive, low-risk investment opportunity, supported by the company's strong and stable credit profile.

Following the closure of Category I subscriptions, the cut-off yield and fixed price for Category II investors are expected to be announced on or around November 16.

The second subscription window will run from November 18 to 30, 2026.

Bank Nizwa and National Bank of Oman are serving as joint issue managers, while Oman Investment Bank has been appointed as liquidity provider.

The Sukuk is scheduled to be listed on the Muscat Stock Exchange on or around  December 10,2026, following allocation and settlement. -OGN/TradeArabia News Service