Manama : Subscription is open for the BD100 million Sukuk issued at a par value of BD1 each on 8 January 2018 for a period of 3 years and ending on 8 January 2021, announced Bahrain Bourse (BHB).
The subscription will be open on Tuesday and Wednesday from 9:30am until 1:00pm and on Thursday from 9:30am until 11:00am.
The annual fixed return on these securities is 4.8 per cent, and will be paid every six months on 8 July and 8 Jan. every year throughout the period of this issue.
Minimum subscription amount is BD500 (500 Sukuk). Minimum allotment will be 10,000 Sukuk per subscriber applying for an amount of BD10,000 and above, while the remaining quantity will be allocated on pro-rata basis.
Upon listing of the Sukuk, which is expected to be on the 21st of January 2018, investors will be able to trade them in the secondary market through a registered broker at BHB during the trading session, which is held on a daily basis from Sunday to Thursday.
The Central Bank of Bahrain issued the Government Islamic Leasing (Ijarah) Sukuk on behalf of the Government of Bahrain. The Government of Bahrain directly guarantees the Sukuk securities.
Bahraini and Non-Bahraini investors can directly subscribe the Government Islamic Leasing (Ijarah) Sukuk Issue 25 through the primary market of BHB.