The brothers, who say they are innocent, are accused of having formed an organised criminal network in early 2021 in Romania, as well as in the US and Britain
Jamal bin Theniyah, Chairman of Emaar Properties (Emaar Properties), today rang the market-opening bell to celebrate the listing by the leading company of a $500 million Sukuk on Nasdaq Dubai, the international exchange of the region, in the presence of Ahmad Al Matrooshi, Executive Board Member of Emaar Properties, Rashid Al Shamsi, Board Member of Nasdaq Dubai and Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM, as well as senior executives from both sides.
The $500 million 10-year sukuk issuance is part of Emaar Properties’ $2 billion Trust Certificates Issuance Programme solely listed on Nasdaq Dubai. It has been priced at 3.7 per cent yield and attracted strong demand with total value of investors’ applications exceeding $3.3 billion.
Theniyah said: “The UAE, with Dubai in particular, continues to be an attractive destination for investors due to its promising growth driven largely by a number of key Government initiatives since the onset of the pandemic. The success of our latest Sukuk issuance demonstrates major investors’ confidence in both the Emaar Group and Dubai’s real estate market. This Sukuk also underscores the critical role Nasdaq Dubai plays as a well-regulated platform within both regional and global markets.”
The Emaar Properties Sukuk was listed on Nasdaq Dubai on July 6, 2021, taking the total value of sukuk listings on Dubai capital markets to $78.04 billion, reinforcing its position as the one of the world’s largest sukuk listing venues.
Rashid Al Shamsi, Board Member of Nasdaq Dubai, said: “The accelerating pace of issuance and listing from leading institutions in the UAE and beyond underscores their deep confidence in Nasdaq Dubai’s favorable eco-system. Issuances and listings so far this year strongly reinforce Nasdaq Dubai’s status as the preferred listing venue for Sukuk and Bonds as well as its active role in realizing Dubai’s strategy as one of the leading financial hubs globally.”
Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM, said: “We are pleased to welcome the new listing from Emaar Properties, one of Dubai’s prominent companies and a recurrent issuer of fixed-income instruments on Nasdaq Dubai. This listing provides further impetus to the Exchange’s prominent status as a world-class marketplace for listing of Sukuk and bonds in the MENA region. Nasdaq Dubai is continuously enhancing its infrastructure and regulations to cater to the requirements of our prominent issuers seeking to finance their growth strategies as well as to provide investors with diversified opportunities.” — business@khaleejtimes.com
The brothers, who say they are innocent, are accused of having formed an organised criminal network in early 2021 in Romania, as well as in the US and Britain
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