DP World lists $1.2bn Sukuk

DP World's Sultan Ahmed Bin Sulayem rang the market-opening bell on June 27. DP World's Sultan Ahmed Bin Sulayem rang the market-opening bell on June 27.
Industry Database

DP World group chairman and chief executive Sultan Ahmed Bin Sulayem rang the market-opening bell on June 27, to celebrate the listing of $1.2bn Sukuk on Nasdaq Dubai.

The listing by DP World reinforces Dubai’s status as the global leader for Islamic bond listings, with a total nominal value of $44.56bn.

Mr Sulayem 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, underlining the market’s confidence in our continuing development and growth.

“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.”

The bell ringing ceremony was held in the presence of his excellency Essa Kazim, governor of Dubai International Financial Centre, secretary general of Dubai Islamic Economy Development Centre and chairman of Dubai Financial market; Abdul Wahed Al Fahim, chairman of Nasdq Dubai; and Hamed Ali, chief executive of Nasdaq Dubai.

Mr Fahim added: “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.”

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