Nasdaq Dubai, the region’s international financial exchange, welcomed the listing of a US$200 million Sukuk issued by GFH Financial Group, GFH.
GFH said in a statement on Wednesday that the proceeds of the Sukuk will be used to further strengthen its balance sheet and diversify its income. It is GFH’s second Sukuk listing on Nasdaq Dubai, following the listing of a $300 million Sukuk in February 2020.
Dubai’s Sukuk listings by value now total $64.5 billion. UAE issuers account for 44 percent of these by value with 56 percent from issuers in other countries.
Hisham Alrayes, Chief Executive of GFH Financial Group, said, “As we strengthen our activities as a leading regional and international financial group following our latest successful capital raise, we are delighted to expand our relationship with investors through Nasdaq Dubai. The global visibility that the exchange provides and its high standards of regulation provide valuable support to our strategy of engaging positively with market participants and maintaining their support for our growth and development.”
Hamed Ali, Chief Executive of Nasdaq Dubai, said, “As the region’s international exchange, Nasdaq Dubai provides GFH and other Sukuk issuers on its market with excellent investor links and a high public profile. We look forward to welcoming further listings from a range of regional and international issuers to support their funding requirements as they develop their strategies to prosper through the current economic volatility.”
GFH’s $200 million Sukuk listed on Nasdaq Dubai on 9th June 2020.