17 Oct, 2024Nasdaq Dubai Welcomes USD 750 million Sukuk Issuance by the Government of the Emirate of Sharjah
Nasdaq Dubai has announced the listing of a USD 750 million Sukuk issued by the Government of the Emirate of Sharjah.
The USD 750 million Trust Certificates, due in 2035 brings the total current value of Sukuk under this program to USD 7.8 billion. The total outstanding value of issuances by the Government of Sharjah on Nasdaq Dubai now stands at USD 12.6 billion.
The Sukuk achieved strong demand from investors, with bids reaching USD 2.6 billion, resulting in the issuance being 3.5 times oversubscribed. Notably, 34% of the investors were from outside the MENA region, highlighting the broad international appeal of the Dubai capital market.
With this new listing, the total value of Sukuk listed on Nasdaq Dubai currently stands at USD 93 billion. Nasdaq Dubai continues to be a preferred platform for Sukuk listings, providing issuers with access to a broad investor base and supporting growth within the Islamic finance sector.
Nasdaq Dubai, formerly DIFX, is the international financial exchange in the Middle East. It allows companies to benefit from a unique investor pool that combines regional and international wealth, making it a globally unique platform for companies to raise money and for investors to find exciting opportunities.
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