Takaful Oman rights issue of 150,000,000 shares open for subscription

Takaful Oman rights issue of 150,000,000 shares open for subscription

Muscat: As the only indigenous Islamic insurer in the Sultanate of Oman, Takaful Oman has carved its unique niche in the growing Islamic finance industry. Offering an entire bouquet of insurance products which includes General, Health, and Family Takaful, the company has established itself as a strong and trustworthy brand. With a well-unified network of branches and agencies across the Sultanate, Takaful Oman seeks to better serve its growing customer base of 200K by further developing innovative and embedded products.

In line with the company’s long-term growth strategy and to meet the company’s solvency requirement, Takaful Oman is gearing for a Rights Issue of 150,000,000 shares at a price of 41 Baiza per share (with a share price of 40 Baiza per share plus issue expenses of 1 Baiza per share). The opening date for the Rights Subscription period was 1 June 2022 and will close on 8 June 2022.

Commenting on Takaful Oman’s role in the Sultanate’s Islamic insurance ecosystem, Mr. Mohamed Abdulla Al Khonji, Chairman of Takaful Oman said, “As the Sultanate’s first fully-fledged Islamic insurance provider, Takaful Oman has proactively demonstrated its ability to adapt to a dynamic market and has continued to provide unparalleled services to its customers.