Warba Bank, a leading Kuwaiti Islamic Bank, rang the market-opening bell to commemorate the listing of its $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai.
Mr. Shaheen Al-Ghanem, CEO of Warba Bank rang the market-opening bell in the presence of Mr. Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
This is Warba Bank’s third Sukuk listings on Nasdaq Dubai, following the listings of a $250 million Sukuk in March 2017 and a $500 million Sukuk in October 2019. The latest issuance was priced at 4 percent and oversubscribed by 4.4 times.
This new listing brings the total outstanding value of the Bank’s Sukuk on the exchange to $898 million and strengthens Dubai capital markets’ position as one of the leading Sukuk listing venues globally with a total value of $79.4 billion.
Shaheen Al-Ghanem CEO – Warba Bank
“Our latest Sukuk issuance witnessed significant success in attracting regional and international investors and is a clear testament on their confidence in Warba Bank’s expansion strategy in various business activities such as investment, treasury, corporate and retail banking. We are delighted to list this issuance on Nasdaq Dubai, leveraging on its world-class regulations, infrastructure and services that provide our Sukuk with a strong presence and links with regional and global investors. The listing also further strengthens the ties between the capital markets of Kuwait and the UAE.”
Mr. Ali said that “Nasdaq Dubai is pleased to welcome the new Sukuk issuance from Warba Bank as part of its active role to support leading issuers from the UAE and beyond. The constant listings from leading regional and international financial institutions, such as Warba Bank, underscore their confidence in Nasdaq Dubai’s regulatory framework and its support infrastructure.”
“We are committed to further expanding our services in line with the requirements of issuers and investors as well as to drive Dubai’s leading status as one of the largest global Sukuk listing centers to new heights,” Mr. Ali added.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
