MUSCAT, Oct 4 (Reuters) - Oman's Ministry of Finance said on Sunday it would open subscriptions for the sultanate's first issue of sovereign sukuk on Thursday and close them on Oct. 22.
The rial-denominated issue will have a tenor of five years, with its profit rate set through a uniform price auction, the ministry said in an emailed statement.
The issue will be open to sophisticated investors - usually taken to mean fund managers, banks and other institutions, as well as wealthy individuals - with a minimum subscription of 500,000 rials ($1.3 million), the ministry added.
Its size will be decided on completion of a book-building exercise. Previously, Omani officials had said they expected the issue to be 200 million rials.
Bank Muscat
(Reporting by Fatma Alarimi, Writing by Andrew Torchia, Editing by David French) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
Keywords: OMAN BONDS/