DP World
DPW
DPW
Mohammed Abdulla Al Gergawi, Chairman of the Executive Office of HH Sheikh Mohammed Bin Rashid Al Maktoum, as well as the Chairman of the Board, Dubai Islamic Economy Development Centre (DIEDC) have attended the market-opening bell-ringing ceremony to celebrate the listing of a $700-million (AED 2.57 billion) Sukuk issuance by DIFC Investments on NASDAQ Dubai.
The listing earmarks Dubai’s position as one of the three largest Sukuk listing venues in the world, with a current nominal value totaling $24.05 billion. It is worth highlighting that over half of this amount, or $12.8 billion were listed in 2014 alone, supporting the emirate of Dubai’s robust growth as the Islamic Economy’s global capital.
Governor of Dubai International Financial Centre (DIFC) Essa Kazim rang the bell with the attendance of several DIFC senior executives, Dubai Financial Market (DFM) and NASDAQ Dubai.
Commenting on the Sukuk launch Al Gergawi stated “The listing of this Sukuk by the investment arm of the DIFC, on the financial exchange that is based inside the DIFC, highlights the culture of capital markets collaboration that exists within the financial centre, and in Dubai as a whole. It also represents a significant step in Dubai’s progress towards becoming the global Capital of Islamic Economy, under the initiative launched in 2013 by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, which is overseen by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council.”
Meanwhile, Kazim highlighted “DIFC Investments’ choice of NASDAQ Dubai for its Sukuk listing provided important support for the success of the issuance, which was oversubscribed 4.3 times following a roadshow in the Middle East, Europe and East Asia. The continued expansion of the exchange and its close links to international and regional investors are set to play a growing role in the success of the DIFC in coming years in Islamic as well as conventional finance.”
It is worth noting that DIFC is home to over 1,100 active registered companies. These include DP World, which was listed on NASDAQ Dubai in 2007 after carrying out what was then the Middle East’s largest initial public offering (IPO) at $4.96 billion.
The listing earmarks Dubai’s position as one of the three largest Sukuk listing venues in the world, with a current nominal value totaling $24.05 billion. It is worth highlighting that over half of this amount, or $12.8 billion were listed in 2014 alone, supporting the emirate of Dubai’s robust growth as the Islamic Economy’s global capital.
Governor of Dubai International Financial Centre (DIFC) Essa Kazim rang the bell with the attendance of several DIFC senior executives, Dubai Financial Market (DFM) and NASDAQ Dubai.
Commenting on the Sukuk launch Al Gergawi stated “The listing of this Sukuk by the investment arm of the DIFC, on the financial exchange that is based inside the DIFC, highlights the culture of capital markets collaboration that exists within the financial centre, and in Dubai as a whole. It also represents a significant step in Dubai’s progress towards becoming the global Capital of Islamic Economy, under the initiative launched in 2013 by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, which is overseen by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council.”
Meanwhile, Kazim highlighted “DIFC Investments’ choice of NASDAQ Dubai for its Sukuk listing provided important support for the success of the issuance, which was oversubscribed 4.3 times following a roadshow in the Middle East, Europe and East Asia. The continued expansion of the exchange and its close links to international and regional investors are set to play a growing role in the success of the DIFC in coming years in Islamic as well as conventional finance.”
It is worth noting that DIFC is home to over 1,100 active registered companies. These include DP World, which was listed on NASDAQ Dubai in 2007 after carrying out what was then the Middle East’s largest initial public offering (IPO) at $4.96 billion.
Source:
Mubasher
