Okyo launches $1B gas sukuk program
OQ Gas Networks Company (OQGN), listed on the Muscat Stock Exchange, announced the establishment of an international program to issue sukuk (Islamic bonds) valued at up to one billion US dollars. The purpose of this program is to enhance financing flexibility and access global debt markets. To date, no sukuk have been issued, and the company will have the ability to issue sukuk in the future based on its needs and market conditions, with the option to list them on the London Stock Exchange International. The company also indicated that this program does not currently impact its operational plans or capital expenditures. It is a financing framework that provides greater flexibility in fundraising when needed. Meanwhile, the company recorded a growth in profits of 7.11% in 2025, reaching a net profit of 51.2 million Omani rials (approximately 132.76 million US dollars).
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