Saturday, November 27
06:30 PM

Subscription period extended till Feb 9 for Oman REIT IPO

1 Feb 2021

Oman REIT Fund is offering good returns with a targeted annual dividend of 7.5 per cent that is expected to grow to 8.2 per cent over a five-year period.

The subscription period for the initial public offering (IPO) of Oman REIT Fund has been extended till February 9, 2021.

Earlier the subscription period for Oman REIT Fund’s RO26.1mn IPO, which started on January 17, was scheduled to close on January 31. The Capital Market Authority (CMA) has now agreed to extend the subscription period by seven working days.

‘Due to the increasing demand and the delay experienced in completing the subscription procedures for many willing investors, the CMA agreed to extend the subscription period for seven working days, so that the last day for subscription will be Tuesday, February 9,’ Oman REIT Fund said in a statement tweeted by the Muscat Securities Market on Monday.

The fund urged investors to complete their subscription procedures within the specified period.

Allowing subscribers to the fund to participate in the high potential Omani real estate sector in a hassle-free manner, Oman REIT Fund is offering good returns with a targeted annual dividend of 7.5 per cent that is expected to grow to 8.2 per cent over a five-year period.

Oman REIT Fund will offer 261mn units for public subscription which represents 40 per cent of the total issued capital of the fund at RO65mn.

© 2021 Apex Press and Publishing. All Rights Reserved. Powered by Mesdac