Sultan Ahmed Bin Sulayem, Group Chairman and CEO of global trade enabler DP World, has rang the market-opening bell to celebrate the listing on Nasdaq Dubai of a US$1.2 billion Sukuk Islamic bond.
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.
The bell-ringing ceremony was held in the presence of Essa Kazim, Governor of Dubai International Financial Centre (DIFC), Secretary General of Dubai Islamic Economy Development Centre (DIEDC), and Chairman of Dubai Financial Market (DFM); Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai; and Hamed Ali, Chief Executive of Nasdaq Dubai.
Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, said: “As the international financial exchange serving the Middle East, Nasdaq Dubai is an excellent listing venue to support the global visibility of our Sukuk.
“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.
“Our Sukuk listing fits with the vision of our leaders to position Dubai as the capital of the Islamic economy globally. The demand for it illustrates the positive outlook on our strategic growth and confidence in the strength of our global network across six continents.”
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 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.
Fact File: Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS).