Dubai – Mubasher: DP World chairman Sultan Ahmed Bin Sulayem rang the market-opening bell to celebrate the listing of a $500 million conventional bond on Nasdaq Dubai on Monday.

Following this listing, total value of conventional bonds on Dubai’s exchanges has reached $11.82 billion.

The bell-ringing ceremony took place with the attendance of Essa Kazim, governor of the Dubai International Financial Centre (DIFC) and chairman of the Dubai Financial Market (DFM); Abdul Wahed Al Fahim, chairman of Nasdaq Dubai; Mohammed Sharaf, CEO of DP World Group; and Hamed Ali, CEO of Nasdaq Dubai, according to a statement.  

“Our success in raising capital using securities listed on the exchange, from investors located both in the Middle East and around the globe, plays an important role in our continued growth and development,” said DP World’s chairman.

The new listing is the third debt issuance listed by DP World on Nasdaq Dubai, following a $1.5-billion Sukuk and a $1.75-billion conventional bond that were listed in 2007.  DP World listed its shares on the exchange in the same year.