DP World launches US $1.2bn Sukuk on Nasdaq Dubai
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, rang the market-opening Monday to celebrate the listing on Nasdaq Dubai of a 1.2 billion US dollar Sukuk.
The listing by DP World reinforces Dubai’s status as the global leader for Islamic bond listings, with a total nominal value of 44.56 billion US dollars.
“As the international financial exchange serving the Middle East, Nasdaq Dubai is an excellent listing venue to support the global visibility of our Sukuk,” said Bin Sulayem. “Our issuance received strong investor demand from around the world, including the US and Europe as well as our own region, underlining the market’s confidence in our continuing development and growth as a leading trade enabler connecting marine and inland terminals, free zones and logistics for the benefit of economies around the world.”
HE Essa Kazim, governor of DIFC, secretary general of DIEDC and chairman of DFM, said: “DP World’s decision to choose Nasdaq Dubai for its listing highlights the growth of the Sukuk sector in the Emirate, accelerating the expansion of Dubai as the global Capital of Islamic economy under the initiative launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minster and Ruler of Dubai. Dubai provides unrivalled expertise across all aspects of Sukuk activity.”
DP World’s Sukuk listed on Nasdaq Dubai on June 1, 2016. It is the company’s fourth debt listing on the exchange.
Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said: “Our Islamic capital markets framework is purpose built to support leading companies such as DP World that require a high profile platform for their securities, within a robust regulatory environment. We look forward to welcoming many more UAE, regional and international Sukuk issuers as the sector continues to expand as an attractive tool for enterprises to raise capital.”
Hamed Ali, chief executive of Nasdaq Dubai, said: “This listing by one of Dubai’s most prominent international enterprises reflects the Emirate’s continuing expansion as a hub for attracting investors from around the world. Nasdaq Dubai will further enhance its listing infrastructure and procedures, to ensure streamlined access to the exchange for issuers of diverse asset classes and continuing support for them after listing.”