Nasdaq Dubai welcomes the listing of $500 million in sukuk from “Bin Ghatti Holding,” reflecting the continued strength of the exchange as a preferred investment destination. This new listing demonstrates the growing demand for Sharia-compliant financing instruments and enhances Dubai’s position as a leading global financial hub.
Details of the Issuance
Nasdaq Dubai, the leading financial exchange in the region, hosted the listing of $500 million in sukuk from “Bin Ghatti Holding,” a prominent player in Dubai’s real estate development sector. Set to mature in 2030, this move is part of Bin Ghatti’s program to issue a total of $1.5 billion in sukuk. The sukuk have garnered unprecedented interest from regional and international investors, with subscriptions covering five times the offered amount, reaching a total of $2.5 billion.
High Investor Response
Due to the significant interest, the sukuk were priced at a profit rate of 8.125%, following a price review based on initial guidance. In celebration of the sukuk listing, Mohammed Bin Ghatti, Chairman of “Bin Ghatti Holding,” rang the opening bell for the trading session at Nasdaq Dubai alongside Hamed Ali, CEO of Dubai Financial Market and Nasdaq Dubai, highlighting the importance of this event in the company’s history.
Official Statements
In this regard, Mohammed Bin Ghatti stated, “The successful listing of our new $500 million sukuk on Nasdaq Dubai marks a significant milestone in the company’s growth journey. The strong level of interest reaffirms the confidence of regional and international investors in the strength of our financial position and our future vision.” Hamed Ali also emphasized that “Nasdaq Dubai is committed to providing an advanced platform to connect issuers with a diverse base of investors.”
Market Implications of the Listing
With the addition of this sukuk, the total value of sukuk listings from “Bin Ghatti” on Nasdaq Dubai reaches $1 billion. This ongoing success reflects the company’s confidence in the financial markets. Nasdaq Dubai continues to reinforce its position as a leading global center for Sharia-compliant financing, with the total value of sukuk listings nearing $98.6 billion across 108 listings, contributing to its status as one of the foremost sukuk listing platforms worldwide.