Mubasher: The Bahraini GFH Financial Group rang Nasdaq Dubai’s market opening bell for listing $300 million Sukuk.
The five-year Sukuk issuance was oversubscribed 2.5 times with a total book value of over $750 million, according to a press release on Tuesday.
Regional investors have subscribed 53% of the issuance, while the remaining 47% has been earmarked to international investors.
The chairman of GFH, Jassim Alseddiqi, said: “Listing our Sukuk on a well-regulated and international trading platform like Nasdaq Dubai will expand GFH’s reach and visibility among the global and regional investor community.”
Meanwhile, the chairman of Nasdaq Dubai, Abdul Wahed Al Fahim, remarked: “In 2020 and beyond we [Nasdaq Dubai] will build on the strong growth trend in our Sukuk market, which attracted its highest annual value of $14.15 billion of new listings in 2019.”