The bond and sukuk market trading in Oman rose 119%, to 126.5 million in 2023


The bond and sukuk market attracts more investors, trading rise to RO 126.5 million

Muscat: The value of trading in the bond and sukuk market increased during the past year to RO 126.5 million, compared to about RO 57.6 million in 2022, recording a growth of 119 percent.

The bond and sukuk market provides additional options for investors on the Muscat Stock Exchange, and last year it was able to attract more investors, accounting for about 11.2 percent of the total trading value witnessed by the stock exchange in 2023, which amounted to one billion and RO 132.7 million, while in 2022 it acquired 6.1 million Omani riyals. percent of the total trading value of RO 940.2 million in 2023, the bond and sukuk market recorded an increase in the number of executed deals, which jumped to 2,035 deals compared to 1,029 deals executed in 2022.

However, the market value of the bond and sukuk market declined at the end of last December to 4.4 billion Omani riyals, compared to 4.8 billion Omani riyals at the end of 2022. . The total number of securities listed in the bond and sukuk market at the end of last December reached 59 securities, but trading was limited to 29 securities.

Bank Muscat’s first-class perpetual bonds topped the most traded securities in terms of trading value, with more than RO 49 million, accounting for 38.7 percent of the total trading value witnessed in the bond and sukuk market.

Ominvest’s 2023 perpetual bonds came in second place with 28.7 million Omani riyals. Sohar International Bank’s 2019 perpetual bonds came in third place with 10.3 million Omani riyals, and the Muhammad Al Barwani Company’s US dollar-denominated sukuk came in fourth place with RO 7.5 million, while the 59th issue of government development bonds came in fifth place with RO 5.9 million.  Last year witnessed the listing of 9 securities in the bond and sukuk market with a total value of RO 394.6 million.

In the government bonds sector, the 62nd issue of government development bonds was listed with a value of RO 67.5 million, and in the bank bonds sector, additional permanent subordinated bonds of the category were listed.

The first is for the National Bank, with a value of RO 54 million, and the listing of unsecured permanent subordinated bonds for Oman Arab Bank, with a value of 50 million Omani Riyals, and permanent unsecured subordinated bonds for Bank Dhofar, with a value of RO 40 million, were also listed.

In the investment companies and finance companies sector, permanent unsecured subordinated bonds of the Oman International Development and Investment Company “Ominvest” were listed at a value of 60.1 million Omani riyals, and unsecured, non-transferable subordinated bonds issued by Taajeer Finance Company at a value of 14.9 million Omani riyals were listed. In the sukuk sector, the seventh issue of sovereign sukuks was listed at a value of RO 76.3 million, and the new Mohammed Al Barwani Company sukuks were listed at a value of RO 30.1 million.

During the past year, the Oman Finance Company issued free unsecured bonds that are obligatory to convert into shares after 5 years from the date of issuance, in accordance with the decision of the annual ordinary general assembly held in March 2023, which approved the distribution of free bonds at a rate of 5 percent of the company’s capital, equivalent to 5 bonds for each. 100 shares owned by the shareholder on the date of the assembly meeting.

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