Energy Development Oman (Energy Oman) has announced the launch of its second Omani rial sukuk offering, with an initial issue size of OMR50 million ($130 million) and an option to raise an additional OMR25 million through a greenshoe option.

The Shari’a-compliant sukuk carries a fixed annual profit rate of 5 per cent, payable quarterly, and has a five-year maturity.

Each certificate has a nominal value of OMR1, with cash flows backed by Energy Oman’s energy assets in the Sultanate.

The offering will be conducted in two categories. Subscription for Category I investors will open on November 4 and close on November 12, 2026, through a competitive bidding process using physical application forms and a yield reference table.

Following the close of the first phase, the cut-off yield and fixed price for Category II investors are expected to be announced around November 16.

Category II subscriptions will run from November 18 to November 30 through the electronic IPO platforms of participating collecting banks.

The minimum subscription is 1,000 certificates for Category I investors and 100 certificates for Category II applicants.

If the greenshoe option is exercised, Category II investors will receive priority in the allocation of additional certificates.

All applicants must hold an investor account with Muscat Clearing and Depository.

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

National Bank of Oman and Bank Nizwa are joint issue managers, while Trowers & Hamlins serves as legal adviser.

Oman Investment Bank has been appointed liquidity provider to support market-making activities.

Ten banks will act as collecting banks, including Ahli Bank, Bank Dhofar, Bank Nizwa, National Bank of Oman, Oman Arab Bank and Sohar International, alongside their respective Islamic banking units.

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 list on the Muscat Stock Exchange on or around  December 10, 2026. -OGN/TradeArabia News Service