Nasdaq Dubai, the region’s international financial exchange, has welcomed the listing of a USD 500 million Sukuk by Binghatti Holding, a leading Dubai-based property developer.
Issued under the company’s USD 1.5 billion Trust Certificate Issuance Programme, the Sukuk matures in 2030 and received overwhelming investor interest, being oversubscribed five times with more than USD 2.5 billion in orders. The issuance was priced at a profit rate of 8.125%, significantly tightening from initial guidance.
To celebrate the occasion, Muhammad BinGhatti, Chairman of Binghatti Holding, rang the market opening bell at Nasdaq Dubai alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). The Sukuk are also listed on the London Stock Exchange.
“This successful listing marks another important milestone in Binghatti’s growth journey,” said BinGhatti. “The strong demand underscores the confidence of regional and international investors in our vision and financial strength.”
Hamed Ali added: “We are pleased to welcome Binghatti’s latest Sukuk, reflecting the strong global appetite for Islamic finance instruments and reaffirming Dubai’s role as a global capital markets hub.”
With this latest listing, Binghatti’s Sukuk on Nasdaq Dubai total USD 1 billion. Overall, Nasdaq Dubai continues to strengthen its global leadership in Islamic finance, with total Sukuk listings reaching USD 98.6 billion across 108 issuances.
Source: Dubai Media Office
