10 June 2013
Muscat - Oman National Investment Corp (ONIC) Holding has announced that it will hold a 7.5 per cent stake in Takaful Oman SAOG, the first takaful insurance company in the sultanate which is under formation.
Muscat - Oman National Investment Corp (ONIC) Holding has announced that it will hold a 7.5 per cent stake in Takaful Oman SAOG, the first takaful insurance company in the sultanate which is under formation.
In a disclosure to the Muscat Securities Market (MSM) on Monday, ONIC Holding said the investment in Takaful Oman is in line with its strategy.
"ONIC Holding is investing in Takaful Oman as one of the founding shareholders. Takaful Oman will be the first takaful insurance company in Oman. The initial capital of the new company is RO10mn and ONIC Holding will hold a 7.5 per cent shareholding," ONIC Holding said in its disclosure.
The disclosure said that as per Capital Market Authority regulations, Takaful Oman will be listed on the MSM through an initial public offering (IPO).
© Muscat Daily 2013
