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Mumtalakat receives $4bn orders for $500m sukuk

Mumtalakat receives $4bn orders for $500m sukuk
Mumtalakat’s CEO Khalid Al Rumaihi

Mubasher: Bahrain Mumtalakat Holding Company, the sovereign wealth fund of Bahrain, has received $4 billion worth of orders for $500 million sukuk, Mumtalakat’s CEO Khalid Al Rumaihi told CNBC Arabiya on Wednesday.

The company did not expect such demand on its sukuk, Al Rumaihi said, adding that the sukuk’s yield stood at 4.25%.

Mumtalakat holds government’s stakes in companies including Bahrain Telecommunications Company and the National Bank of Bahrain, the top official noted.

Al Rumaihi revealed that his company is seeking to diversify its investments in various sectors.