Kuwait's Ahli United Bank rings Nasdaq Dubai bell to celebrate listing of US$ 600 million Sukuk

The successful listing of AUB's Sukuk underlines the close ties between the capital markets in Kuwait and the UAE

  

Dubai: Abdullah AlLanqawi, General Manager and Treasurer of Ahli United Bank (AUB) Kuwait, one of Kuwait’s leading financial institutions, today rang the Nasdaq Dubai market opening bell to celebrate the listing of a US$ 600 million Sukuk issued by the bank.

The new listing has increased the total value of debt issuances listed on Nasdaq Dubai by Kuwaiti issuers to US$ 1.51 billion. It has also reinforced Dubai’s status as one of the world’s largest centre for Sukuk listings with a total value of US$ 77.56 billion.

Commenting on this listing, Jehad Al-Humaidhi, Acting CEO of AUB, Kuwait said: “Ahli United Bank, Kuwait has successfully issued and listed AT1 Capital Sukuk with US$ 600 million. Subscriptions reached US$ 1.8 billion representing 3 times the targeted size. The issuance is fairly priced at 3.875% p.a. distributable semiannually. The oversubscription reflects investors’ confidence in AUB’s Management, performance and capability. This issuance will further support AUB’s capital base and is the second Sukuk issuance by AUB Kuwait to be listed successfully on Nasdaq Dubai. It is attributable to our trust in Nasdaq’s Dubai creditability and transparency in dealing fairly with all issuers and investors.”

Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM, said: “As the region’s international exchange, we are pleased with the rapid expansion of Nasdaq Dubai’s Sukuk market that continues to attract numerous corporate and sovereign issuances alike. This momentum underscores the exchange’s advanced regulations and infrastructure as well its active role to meet requirements of leading institution in the region and beyond. The successful listing of AUB’s Sukuk underlines the close ties between the capital markets in Kuwait and the UAE.”

The AUB Sukuk listed on Nasdaq Dubai on 17 June 2021.

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About Nasdaq Dubai:
Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS). The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).

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