Danainfra third issuance of retail Sukuk oversubscribed

  • Banking
  • Tuesday, 19 Aug 2014

KUALA LUMPUR: DanaInfra Nasional Bhd, set up the Finance Ministry to raise funds for the Klang Valley Mass Rapid Transit project, reported its third DanaInfra Retail Sukuk of one million units valued at RM100mil in nominal value was oversubscribed.

Malaysian Issuing House Sdn Bhd (MIH) on Tuesday 400 applications representing RM3.95mil in value was received from the Malaysian public. It added four applications representing RM100mil in value were also received from the placement agent. 

This represented a subscription rate of 103.95% for the retail Sukuk offering.

MIH said the allocation of units to successful applications was completed this afternoon. The notices of allotment for successful applicants would be mails on or before Aug 26.

The participating financial institutions for the retail Sukuk are AmBank Group, CIMB Group , Malayan Banking Bhd and RHB Banking Group.

The tenure for the Sukuk is seven years and the profit rate is 4.23% per annum. The Sukuk will be listed and start trading on Aug 27.