Nasdaq Dubai says it is the third debt listing by the Investment Corporation of Dubai, takes total sukuk listings to $47.2bn
Nasdaq Dubai, the region’s international stock exchange, on Thursday announced the listing of a $1 billion US dollar sukuk by the Investment Corporation of Dubai (ICD), the Dubai government's main investment arm.
Nasdaq said in a statement that the listing reinforces Dubai’s position as the world’s largest venue for sukuk listings by value, raising the total listed in the emirate to $47.21 billion.
It added that it is the third debt listing by ICD on Nasdaq Dubai, following the listing in May 2014 of a $700 million sukuk and a $300 million conventional bond.
Earlier this week, bankers said order books for the 10-year US dollar sukuk offer by ICD, exceeded $1.5 billion.
ICD, which holds stakes in some of the emirate's top companies, made a net profit of AED10.3 billion ($2.8 billion) for the first half of 2016.
The consolidated financial results for the six-month period which were published in late December, also showed revenues of AED82.5 billion, achieved against a backdrop of lower oil and commodity prices, a strong US dollar and lacklustre global economic growth.
Revenues decreased by 7.8 percent and net profit decreased by 19.4 percent from the year-earlier period.
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