Nasdaq Dubai, the region’s international financial exchange, has welcomed today the listing of USD 500 million Sukuk by Binghatti Holding, a leading Dubai-based property developer.
Sanctioned under Binghatti’s USD 1.5 billion Trust Certificate Issuance Programme, the Sukuk that matures in 2030 and oversubscribed it five times, that attracted over USD 2.5 billion in orders from the regional and international investors. This reflects a strong demand, the issuance was priced at profit rate of 8.125%, that tighten significantly from initial guidance.
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To mark this occasion, Muhammad Bin Ghatti, Chairman of Binghatti Holding, rang the bell when the market opened at Nasdaq Dubai in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). The sukuk are listed on London Stock Exchange.
Muhammad BinGhatti, Chairman of Binghatti Holding said: “The successful listing of our USD 500 million Sukuk on Nasdaq Dubai marks another important milestone in Binghatti’s growth journey. The strong demand for our sukuk underscores the confidence that regional and international investors place in our financial strength and vision.”
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Hamed Ali, CEO of Nasdaq Dubai and DMF said, “We are pleased to welcome Binghatti’s latest Sukuk listing on Nasdaq Dubai, which highlights the sustained global demand for Islamic finance instruments and the strong appeal of Dubai as a capital markets hub. At Nasdaq Dubai, we remain committed to providing the issuers with a platform to connect with a diverse investor base.”
