Steffen Schubert, Chief Executive Officer of the DIFX commented: "This is a very significant development for the DIFX as it demonstrates the growth of confidence in the exchange. This is the first primary Sukuk listing on the DIFX and we expect to see more debt and equity securities of similar importance being listed in the coming months."

Nicholas Hegarty, Chief Executive Officer and Managing Director for Barclays Capital in the Middle East and North Africa, commented:  "The decision to list the PCFC Sukuk on the DIFX is a logical step given the domicile of the issuer, the Islamic structure and the predominant investor base for the issue. In support of the issue and given Barclays Capital's commitment to the DIFC and the region, we have applied for and received membership of the DIFX."

Commenting on the listing, Sultan Ahmed bin Sulayem, Executive Chairman of PCFC, said: "We are an international company and the DIFX is the first truly international exchange in the region. It gives us better international exposure, hence it is our natural choice. The DIFX has some of the best policies, it has credibility and it is independent. This is the best platform for our first listing. We have other instruments that we would like to list on the DIFX in the coming years."

Lead-managed by Dubai Islamic Bank and Barclays Capital, the landmark Sukuk is the first convertible instrument in the Islamic finance market.