Oman Telecommunications (Omantel) said on Monday its shareholders had approved the issuance of Islamic bonds, or sukuk, worth 50 million rials ($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.
(Reuters / 23 March 2015)---
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Islamic Investment Malaysia: www.islamic-invest-malaysia.com