Omantel shareholders have approved an issuance of of Islamic bonds, which would mark the second corporate sukuk for the sultanate.
The Omani telco did not disclose the planned size of the sukuk, or any further details, however Reuters reported that it…
Omantel shareholders have approved an issuance of of Islamic bonds, which would mark the second corporate sukuk for the sultanate.
The Omani telco did not disclose the planned size of the sukuk, or any further details, however Reuters reported that it would be worth OMR50m (US$129.9m).
However, the former monopoly, which now competes with Ooredoo Oman and a number of MVNOs, noted that shareholders also approved its financial results for the year ended 31 December 2014 at their extraordinary AGM yesterday.
Saud bin Ahmed Al Nahari, vice chairman of the Omantel board of directors, noted that revenues for the period were up 4% year-on-year to OMR481.2m (US$1.25bn), while net profit was up 2.6% to OMR122.4m (US$317.9m). EBITDA stood at OMR211.6m (US$549.6m).
The company said the growth was driven primarily by domestic retail revenues, particularly for fixed and mobile broadband and corporate data services. Conversely, revenues from local and international calls and SMS services continued to decline as customers opt for OTT services, the company noted.
