Nasdaq Dubai Welcomes DP World with Listing of US$1.5 Billion Sukuk

Stock Market Trader Desk

Stock Market Trader Desk

On Wednesday, a press release issued by Nasdaq Dubai, DP World, the Dubai-based supply chain logistics provider mentioned they will be using US$1.5 billion raised by the Sukuk for corporate and growth purposes which includes refinancing debt.

The largest UAE debt issuer on Nasdaq Dubai, DP World has its Sukuk and conventional bonds listings worth over $10 billion.

As CEO and group chairman of DP World, Sultan Ahmed Bin Sulayem celebrated the listing of $1.5 billion sukuk, he expressed his delight by saying that the latest Sukuk garnered good response and demand from regional and international investors, boosting their confidence in DP World’s global business activities and growth strategy, and in turn enabling them to achieve competitive pricing, global recognition, and close relationships with investors all over the world.Additionally, chairman of Nasdaq Dubai, Abdul Wahed Al Fahim said that the Sukuk listing by DP World underlines strong activity that they are seeing in the Sukuk sector as they significantly expand their outreach to various issuers. The value of new sukuk listings has risen to $11.4 billion, up 80% from $6.35 billion in the same period in 2019.

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