Nasdaq Dubai welcomes the listing of $500 million sukuk from Bin Ghati Holding, marking a significant event in the region’s financial landscape. This listing represents a new milestone in the company’s journey and reflects the strong confidence that Bin Ghati Holding enjoys from local and international investors. In this article, we will explore the details of this listing and its implications for the future of financing in Dubai.
Listing Details
Nasdaq Dubai, the leading global financial exchange in the region, has welcomed the listing of $500 million sukuk from Bin Ghati Holding, a prominent real estate development company based in Dubai. The sukuk is due in 2030 and was issued as part of Bin Ghati’s $1.5 billion sukuk issuance program. The issuance saw significant interest from regional and international investors, with subscriptions covering five times the offering value, exceeding $2.5 billion.
Notable Success
Due to the high demand, the sukuk was priced with a profit rate of 8.125%, following a reduction from the initial guidance. To celebrate the successful listing, Mohammed Bin Ghati, Chairman of Bin Ghati Holding, rang the opening bell for trading at Nasdaq Dubai, alongside Hamad Ali, CEO of Dubai Financial Market and Nasdaq Dubai. It is noteworthy that these sukuk are also listed on the London Stock Exchange.
Official Statements
Commenting on the listing, Mohammed Bin Ghati stated, “The successful listing of our new $500 million sukuk on Nasdaq Dubai represents a significant milestone in the company’s growth journey. The strong level of interest underscores the great confidence from regional and international investors in our financial position and future vision.” For his part, Hamad Ali affirmed, “We are pleased to welcome the latest sukuk listing from Bin Ghati to Nasdaq Dubai, which reflects the ongoing global demand for Sharia-compliant financing instruments.”
Future Outlook
With this listing, the total value of sukuk listings from Bin Ghati on Nasdaq Dubai reaches $1 billion, demonstrating the company’s continued confidence in the exchange. Nasdaq Dubai continues to strengthen its position as a leading global center for Sharia-compliant financing, with a total sukuk listing value of $98.6 billion across 108 listings, enhancing its status among the top sukuk listing platforms worldwide.