In a significant development for the financial landscape in Dubai, بن غاطي has announced the listing of its newly issued sukuk valued at $500 million on Nasdaq Dubai. This milestone not only reaffirms the company’s standing in the real estate sector but also highlights the increasing appeal of Islamic finance instruments among global investors. The sukuk, which is set to mature in 2030, is part of بن غاطي’s ambitious $1.5 billion program dedicated to sukuk issuance.
Successful Sukuk Launch
According to a statement released yesterday, the sukuk issued by بن غاطي received an overwhelming response from both regional and international investors. The offering was oversubscribed by five times, with total applications exceeding $2.5 billion. Given the high demand, the sukuk was priced at a profit rate of 8.125%, down from initial guidance, reflecting the robust market interest.
Celebrating Milestones
To commemorate this successful listing, محمد بن غاطي, Chairman of بن غاطي القابضة, rang the opening bell for the trading session at Nasdaq Dubai, in the presence of حامد علي, CEO of Dubai Financial Market and Nasdaq Dubai. “The successful listing of our new sukuk valued at $500 million on Nasdaq Dubai marks a significant milestone in our growth journey,” stated بن غاطي, highlighting the strong confidence investors have in the company’s financial health and future vision.
Market Confidence in Islamic Finance
حامد علي, the CEO of the Dubai Financial Market and Nasdaq Dubai, expressed his satisfaction with the latest sukuk listing from بن غاطي. “We are pleased to welcome this latest sukuk issuance from بن غاطي to Nasdaq Dubai, which reflects the ongoing global demand for Sharia-compliant financing instruments and underscores Dubai’s growing stature as a leading capital markets hub,” he noted.
Strong Growth in Sukuk Listings
With this latest issuance, the cumulative value of بن غاطي’s sukuk listings on Nasdaq Dubai has reached an impressive $1 billion, further demonstrating the company’s commitment to this financial platform. Nasdaq Dubai continues to elevate its position as a global leader in Islamic finance, with total sukuk listings now amounting to $98.6 billion across 108 issuances, solidifying its reputation as one of the premier platforms for sukuk globally.
As Dubai’s financial landscape evolves, بن غاطي’s successful sukuk listing serves as a testament to the strength and resilience of the market, reinforcing the city’s role as a vibrant center for Islamic finance.