Nasdaq Dubai today (July 18) welcomed the listing of a $1- billion Islamic bond (sukuk) and a $300-million conventional bond issued by global trade enabler DP World.
DP World is the largest UAE debt issuer by value on the region’s international exchange, with sukuk and conventional bond listings now totalling $8.09 billion.
The $300-million conventional bond that listed today was a tap issuance on a $1-billion bond that DP World issued in September 2018, said the statement from Nasdaq Dubai.
DP World operates a geographically diverse network of trade enabling businesses including ports and terminals, industrial parks, logistics and economic zones, maritime services and marinas.
DP World’s latest $1-billion sukuk underlines Dubai’s role as one of the largest global centres for Sukuk listings by value, with a current total of $62.35 billion, it stated.
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).
The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA).
Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).-TradeArabia News Service