Dubai’s Nasdaq, a leading global financial exchange in the region, has welcomed the listing of $500 million worth of sukuk from Bin Ghatti Holding, a prominent real estate development firm based in Dubai.
The sukuk is set to mature in 2030 and has been issued as part of Bin Ghatti’s $1.5 billion sukuk issuance program. The offering saw significant interest from both regional and international investors, with the subscription being covered five times over, accumulating over $2.5 billion in requests. Due to the high demand, the sukuk was priced with a profit rate of 8.125%, reduced from initial guidance.
To celebrate the successful listing, Mohammed Bin Ghatti, Chairman of Bin Ghatti Holding, rang the opening bell for trading at Nasdaq Dubai, accompanied by Hamed Ali, CEO of Dubai Financial Market and Nasdaq Dubai. Notably, this sukuk is also listed on the London Stock Exchange.
In this context, Mohammed Bin Ghatti stated, “The successful listing of our new $500 million sukuk at Nasdaq Dubai marks a significant milestone in our company’s growth journey. The strong demand reinforces the confidence of regional and international investors in our solid financial standing and future vision.”
Meanwhile, Hamed Ali commented, “We are pleased to welcome the latest sukuk listing from Bin Ghatti at Nasdaq Dubai, reflecting the ongoing global demand for Sharia-compliant financing instruments, as well as Dubai’s growing appeal as a leading capital markets hub. Nasdaq Dubai is committed to providing an advanced platform to connect issuers with a diverse base of investors.”
With this listing, the total value of sukuk issuances from Bin Ghatti at Nasdaq Dubai rises to $1 billion, demonstrating the company’s continued confidence in the exchange.
Nasdaq Dubai continues to strengthen its position as a leading global hub for Sharia-compliant financing, with a total sukuk listing value of $98.6 billion through 108 listings, further solidifying its status among the top platforms for sukuk listings worldwide.
More on these topics