Mubasher: Oman Telecommunications Company (Omantel) decided not to proceed with the proposed issuance of the certificates at the present time, according to a bourse filing on Wednesday.

The preliminary prospectus dated 11 January - as updated pursuant to the preliminary prospectus dated 20 January - is announced no longer valid for subscription of the certificates after rapt attention of local and foreign investors was paid to the prospected first issuance.

On 2 February, the telecom operator announced a possible offering of $82.160 million and OMR 18.4 million worth of senior unsecured fixed rate certificates due 2021 by first issue.